Trump Administration Tightens Sanctions on Russian Sectors, Aims for Ceasefire in Ukraine

The Trump administration has imposed new sanctions on Russia's oil, gas, and banking sectors, further restricting Russian access to U.S. payment systems, according to CBS News. These measures are part of a broader strategy to increase economic pressure on Moscow, particularly affecting buyers of Russian energy resources. The sanctions were announced after the U.S. Treasury Department allowed a 60-day exemption to lapse, which had previously allowed specific energy transactions involving sanctioned Russian banks. The affected banks include Vnesheconombank, Bank Financial Corporation Otkritie, Sovcombank, Sberbank, VTB Bank, Alfa-Bank, Rosbank, Bank Zenit, Bank Saint-Petersburg, and the Central Bank of Russia. The decision could lead to a price spike of up to $5 per barrel, impacting global oil supply. These actions coincide with efforts by the Trump administration to negotiate a 30-day ceasefire with Russia to end the war in Ukraine. President Trump has indicated that U.S. officials are engaged in serious discussions with President Putin and other Russian officials regarding the ceasefire proposal.