U.S. President Donald Trump announced the cancellation of a planned summit with Russian President Vladimir Putin, citing a lack of progress in diplomatic efforts and feeling that the timing was not right.
Speaking to reporters at the White House, Trump said, “We canceled the meeting with President Putin. I didn’t feel it was appropriate.”
He added, “I didn’t feel we would reach the intended goal. So I canceled it, but we’ll do it in the future.”
Trump expressed frustration over stalled negotiations, saying, “Frankly, all I can say is that every time I talk to Vladimir, we have beneficial conversations, but they never lead to any results.”
The summit cancellation coincided with the White House announcing new sanctions targeting Russian oil exports as part of broader efforts to pressure Moscow over its ongoing military operations in Ukraine.
Trump expressed hope that these measures would be temporary and would encourage Putin to act “rationally.”
U.S. Treasury Secretary Scott Besant announced on Wednesday new sanctions against Russia’s two largest oil companies, condemning Moscow’s refusal to end what he called a “senseless war.”
The sanctions target Rosneft and Lukoil, along with dozens of their subsidiaries, following months of bipartisan pressure on President Trump to impose tougher penalties on Russia’s oil sector.