US Sanctions Russian Oil as Moscow Conducts Nuclear Drills

The United States has imposed new sanctions on Russia's two largest oil companies, Rosneft and Lukoil, escalating pressure on Moscow to halt the war in Ukraine. The move comes as Russia conducted a major military training exercise involving nuclear arms.

The U.S. Treasury Department targeted Rosneft and Lukoil, aiming to damage Russia's ability to finance its military operations. This marks a sharp change in direction after President Donald Trump had resisted energy sanctions for months, hoping for a diplomatic end to the conflict.

The sanctions were unveiled just one day after President Trump canceled a planned summit with Russian President Vladimir Putin, stating the timing "didn't feel right."

Russia showcased its military might by conducting a major nuclear drill, firing missiles from ground launchers, submarines, and aircraft, including intercontinental ballistic weapons. General Valery Gerasimov, head of the General Staff, reported to Putin on the exercise, which included Tu-22M3 strategic bombers flying over the Baltic Sea.

The European Union also approved its 19th package of sanctions against Russia, notably including a ban on Russian liquefied natural gas (LNG) imports.

President Trump is still withholding long-range Tomahawk missiles requested by Kyiv, citing the estimated six months required for Ukrainian pilots to train on them.

Sweden has signed a letter of intent to export Gripen fighter jets to Ukraine, boosting Kyiv's defenses. Trump denied a report by The Wall Street Journal that the U.S. had lifted restrictions on Ukraine's use of some Western long-range missiles for targeting inside Russia.

Trump stated he plans to urge Chinese President Xi Jinping, ahead of their meeting next week, to use China's influence on Putin to help stop the fighting.