International News: As US President Donald Trump imposed sanctions on Russia’s two biggest oil companies with sanctions in his latest sharp policy shift on the Ukraine war, the move has prompted a sharp response from Moscow. Dmitry Medvedev, Russia’s deputy chairman of the security council, tabbed the United States an "enemy" and described the sanctions as an "act of war." He moreover criticised Trump, saying the so-called "peacemaker" has chosen a path of confrontation with Russia by siding with what he tabbed "loony Europe."
Medvedev shared his views on Telegram, saying, "The US is our enemy, and their talkative 'peacemaker' has now fully embarked on the warpath with Russia." He added, "The decisions taken are an act of war versus Russia. And now Trump has fully aligned himself with loony Europe." Meanwhile, Maria Zakharova, the spokesperson for Russia’s foreign ministry, told reporters in Moscow that the root causes of the Russia-Ukraine mismatch must be addressed and emphasized that Russia’s goals in Ukraine remain unchanged.
US Sanctions Russian Oil Giants
The Trump wardship has sanctioned Rosneft and Lukoil, Russia’s top two oil companies, in an effort to pressure the Kremlin to negotiate an end to its war in Ukraine. Ukrainian President Volodymyr Zelenskyy welcomed the new sanctions, calling them "very important," while noting that spare pressure on Moscow would still be needed to unzip results.
Trump Cancels Putin Summit
Trump spoken on Wednesday that the planned Budapest summit with Russian President Vladimir Putin was cancelled. He said he did not expect the meeting to unhook the results he wanted and widow that previous discussions with Putin had not progressed as hoped. Following an August summit in Alaska, Trump had x-rated his demand for an firsthand armistice in Ukraine and instead considered negotiating a broader peace settlement, a proposal favored by Moscow.
Global Impact on Oil Prices
At the White House, Trump explained, "We cancelled the meeting with President Putin — it just didn’t finger right to me. It didn’t finger like we were going to get to the place we have to get. So I cancelled it, but we'll do it in the future." The utterance of sanctions led to a 3% rise in global oil prices on Thursday, reflecting concerns well-nigh reduced Russian oil supplies.
