Trump warns Russia with new 'powerful sanctions': To be imposed soon
Photo: US President Donald Trump (Getty Images)
US President Donald Trump stated that he will soon make a decision on "powerful sanctions" against Russia — stronger than any he has ever announced before, according to Trump’s interview with Fox News journalist Brian Kilmeade.
Fox News journalist Brian Kilmeade asked Trump whether he plans to lift sanctions on Russia, given the 28-point plan the US president has proposed for Ukraine — and noting that Russian President Vladimir Putin would like the sanctions removed.
Trump responded that he does not intend to lift sanctions on Russia, including those targeting its oil companies, such as Lukoil. Moreover, he announced new restrictions, saying they will be implemented soon.
"And they go in very soon. And they're very powerful, very powerful. I mean, you know, it makes it very hard to sell oil. That's a big thing. That's, you know, the whole, their whole economy is based on it," he told Kilmeade.
On November 17, it became known that the United States is preparing a new bipartisan bill to increase sanctions pressure on Russia. Trump, according to one of the bill’s co-authors, Senator Lindsey Graham, approved the legislation.
In October, the US imposed sanctions on Russian oil giants Rosneft and Lukoil, as well as their 36 subsidiaries, to pressure the Kremlin into negotiations over Ukraine. Immediately after, the market capitalization of both companies fell sharply, and they were forced to sell foreign assets.
In addition, major state-owned Chinese refineries halted purchases of ESPO crude following US sanctions, with India taking similar steps. According to media reports, about 48 million barrels of Russian oil could "remain stranded" at sea due to US sanctions. Ultimately, dozens of tankers will be forced to seek alternative ports of destination.
