Russia, Putin and Trump
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Trump warns Putin that U.S. nuclear submarine is stationed right off Russian shores in response to Moscow's new 8,000-mile range missile test on Sunday.
"Eventually the administration decided it's not enough to just use carrots to pressure Putin, you also need sticks," one analyst said.
U.S. President Donald Trump has done a turnaround on sanctions against Russia, taking aim at Russia's two biggest oil companies and the billions of dollars they reap for Moscow's war against Ukraine.
2don MSN
A bad week for Hungary’s strongman leader as Trump-Putin summit scrapped and US sanctions Russia
Hungary’s Prime Minister Viktor Orbán was delighted to learn last week that Russia and the United States had chosen his country as the venue for another summit on ending the war in Ukraine.
The Treasury Department said new economic penalties will target Russia’s two largest oil companies, Rosneft and Lukoil, as well as their subsidiaries.
Trump said Oct. 22 that the sanctions "certainly will have an impact" on Russia and that he hopes Putin will "become reasonable."
President Donald Trump imposed sanctions on Russia's largest oil companies Rosneft and Lukoil while canceling his planned summit with Russian President Vladimir Putin.
Brent crude and West Texas Intermediate futures jumped 5% following new U.S. sanctions on Russia's largest oil producers to curb Russia's ability to fund its war in Ukraine.