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US sanctions Russian oil companies as Moscow holds nuclear drills

The U.S. Treasury Department said Russia’s two largest oil companies, Rosneft and Lukoil, were targeted in a bid to damage Moscow’s ability to fund its war machine.

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The United States hit Russia’s major oil companies with sanctions on Wednesday and accused the Russians of a lack of commitment toward ending the war in Ukraine, as Moscow conducted a major training exercise involving nuclear arms, Reuters reported.

The new sanctions were unveiled one day after plans for a summit between U.S. President Donald Trump and Russian President Vladimir Putin fell apart. Trump told reporters he cancelled the meeting because “it didn’t feel right to me.”

The U.S. Treasury Department said Russia’s two largest oil companies, Rosneft and Lukoil, were targeted in a bid to damage Moscow’s ability to fund its war machine.

The move marked a sharp turnaround for the White House, which has veered between pressuring Moscow and taking a more conciliatory approach aimed at securing peace in Ukraine. Only last week Trump appeared ready to hold off on new actions targeting Moscow.

“Now is the time to stop the killing and for an immediate ceasefire,” U.S. Treasury Secretary Scott Bessent said. Oil prices extended gains after Bessent’s comments, rising by more than $2 a barrel.

For months, Trump has resisted pressure from U.S. lawmakers to impose energy sanctions, hoping that Putin would agree to end the fighting. But with no end in sight, he said he felt it was time.

Trump said he was still not ready to provide Ukraine with long-range Tomahawk missiles, which Kyiv has requested. Talking to reporters as he met NATO Secretary General Mark Rutte, Trump said it would take the Ukrainians at least six months to learn how to use them.

Ahead of a meeting next week with Chinese President Xi Jinping in South Korea, Trump said he would like to see Xi use his influence on Putin to halt the fighting. Xi and Putin have formed a strategic alliance between their countries, read the report.

In a fresh show of force, the Kremlin released video showing General Valery Gerasimov, head of the General Staff, reporting to Putin on the drills. Russia said it fired missiles from ground launchers, submarines and aircraft, including intercontinental ballistic weapons capable of striking the United States.

Russia’s Defence Ministry said its long-range Tu-22M3 strategic bombers flew over the Baltic Sea, escorted at various points by fighter jets from foreign – presumably NATO – states.

At key moments in the war in Ukraine, Putin has issued reminders of Russia’s nuclear might as a warning to Kyiv and its Western allies. NATO has also been conducting nuclear deterrence exercises this month.

EU countries also approved a 19th package of sanctions against Russia for its war against Ukraine, which includes a ban on Russian liquefied natural gas imports, the Danish rotating presidency of the EU said on Wednesday.

The Wall Street Journal said the United States lifted a restriction on Ukraine’s use of some long-range missiles provided by Western allies, which would allow Ukraine to increase attacks on targets inside Russia. In a social media post, Trump denied the report.

On Wednesday, Sweden said it had signed a letter of intent to export Gripen fighter jets to Ukraine, as European governments act to boost Kyiv’s defences in a war that has ground on for three years and eight months since Russia’s full-scale invasion, and shows no sign of ending soon, Reuters reported.

Ukrainian pilots have been in Sweden to test the Gripen, a rugged and relatively low-cost option compared to aircraft such as the U.S. F-35.

Kyiv aimed to receive and start using Gripens next year and expected to acquire at least 100, President Volodymyr Zelenskiy said during a visit to Swedish defence manufacturer Saab.

Russia and Ukraine pounded each other with heavy overnight missile attacks as renewed uncertainty enveloped the U.S.-led peace effort.

After months of stalled diplomacy, Putin and Trump spoke last week and unexpectedly announced they would hold a summit in Hungary soon.

But following a phone call on Monday between the two countries’ top diplomats, the White House said the next day that Trump had no plans to meet Putin “in the immediate future”. Trump said he did not want to have a wasted meeting – something the Kremlin said Putin also wanted to avoid.

U.S. Secretary of State Marco Rubio, departing Washington for the Middle East on Wednesday, told reporters the United States would still like to meet with Russia, Reuters reported.

Russian officials said that preparations continued for a summit. “The dates haven’t been set yet, but thorough preparation is needed before then, and that takes time,” Kremlin spokesperson Dmitry Peskov told reporters.

The summit delay came after Russia reiterated to the U.S. its previous terms for reaching a peace deal, including that Ukraine cede control of the whole of the southeastern Donbas region, three sources told Reuters.

That amounted to a rejection of Trump’s statement last week that both sides should stop at the current front lines.

Russian Deputy Foreign Minister Sergei Ryabkov was quoted by state news agency RIA as saying he could not confirm that Moscow had conveyed its position as reported by Reuters.

Through the first nine months of his second term, Trump has pressed for an end to the conflict, the deadliest in Europe since World War Two.

Sharply critical at times of Zelenskiy, he has also expressed frustration with Putin.

European defence shares rose on the delay to the Putin-Trump summit. Most European governments strongly back Kyiv and have pledged to raise military spending to help Ukraine meet its defence needs.

European Union leaders are due on Thursday to discuss a proposal to use frozen Russian assets to extend a $163 billion loan to Ukraine. Moscow says the scheme amounts to theft and has vowed to retaliate.

World

Shooting at South African bar leaves 11 dead, including a young child, police say

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At least 11 people were killed on Saturday including a three year old boy, after gunshots were fired at an illegal bar in the South African city of Pretoria, police said, adding that a manhunt was launched for three suspects who were not identified.

Another 14 people were wounded during the incident in the Saulsville township, they said in a statement, Reuters reported.

Police didn’t say whether the shooting occurred inside or outside the illegal bar, known locally as a ‘shebeen.’

“Three minors are among those deceased, which include 3- and 12-year-old boys (and a) 16-year-old female,” the South African Police Service said.

South Africa has one of the highest murder rates in the world, averaging about 60 a day.

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Putin visits India for first time since 2022 Ukraine invasion

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Russian President Vladimir Putin will begin a two-day trip to India on Thursday, his first since launching the full-scale invasion of Ukraine, as Moscow seeks to reinforce defense and trade ties with New Delhi amid rising pressure from the Trump administration over India’s continued purchases of Russian oil.

Putin will travel with a high-level delegation that includes Defense Minister Andrei Belousov.
Media reports suggest the two countries may revisit a long-delayed fighter jet agreement during the visit.

India’s Prime Minister Narendra Modi is scheduled to host Putin for a private dinner on Thursday, followed by a summit meeting and business engagements on Friday.

Kremlin spokesman Dmitry Peskov said Russia’s S-400 air defense systems would be a “significant” point of discussion, underscoring the central role of military cooperation in the relationship. India has so far received three of the five S-400 units ordered in 2018, with remaining shipments delayed by Western sanctions and supply disruptions linked to the war in Ukraine.

Reports also indicate that Moscow may propose jointly manufacturing its Su-57 fighter jet in India. Russia remains a major source of India’s defense equipment, though its share of India’s arms imports has declined as New Delhi expands domestic production.

The visit comes shortly after U.S. President Donald Trump imposed 50% tariffs on most Indian exports, arguing that India’s reliance on discounted Russian crude indirectly supports Moscow’s war effort. India has emerged as a major buyer of Russian oil since 2022, saving billions of dollars, though it has recently scaled back purchases as Washington tightened sanctions on producers such as Rosneft and Lukoil.

Indian officials worry that new defense or energy deals with Moscow could trigger additional retaliation from Washington at a sensitive moment in U.S.–India trade talks.

Speaking to Indian media, Peskov dismissed concerns over U.S. measures. “What matters to us is maintaining and increasing our business with India without interference,” he said.

Analysts say neither country is likely to abandon the relationship. Even if India further reduces its intake of Russian crude, Moscow remains indispensable as a supplier of parts for India’s large stock of Russian-made military platforms.

“There may be some reduction in energy purchases under U.S. pressure,” said Nandan Unnikrishnan of the Observer Research Foundation in New Delhi, “but the overall direction of the ties will be maintained because both countries need each other at the strategic level.”

Bilateral trade reached $68.7 billion in 2024–25, nearly six times the pre-pandemic figure, though Indian exports accounted for less than $5 billion. New Delhi has been pressing Moscow to open more space for Indian pharmaceuticals, automobiles and service-sector companies.

Analysts say the visit gives both leaders an opportunity to assess the geopolitical landscape, including the war in Ukraine, and signal continuity in the partnership.

“For India, the optics underscore its commitment to strategic autonomy, and for Putin—who rarely travels—the trip highlights the importance he places on the relationship,” said Harsh V. Pant of King’s College London.

A senior Indian Foreign Ministry official, speaking anonymously, described Russia–India ties as among the “most stable relationships in modern times,” urging observers to view the visit in its bilateral context.

“This is just another annual summit between two countries with a steady relationship,” the official said.

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Russia says no Ukraine compromise after five-hour Putin meeting with Trump envoys

The late-night meeting at the Kremlin brought together Putin, Trump’s special envoy Steve Witkoff, and Trump’s son-in-law Jared Kushner.

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Russia and the United States failed to reach a compromise on a potential peace deal to end the war in Ukraine following five hours of talks between President Vladimir Putin and U.S. President Donald Trump’s top envoys, the Kremlin said on Wednesday.

The late-night meeting at the Kremlin brought together Putin, Trump’s special envoy Steve Witkoff, and Trump’s son-in-law Jared Kushner. The discussions stretched past midnight but produced no breakthrough, according to Kremlin foreign policy aide Yuri Ushakov.

“Compromises have not yet been found,” Ushakov told reporters. “There is still a lot of work to be done.”

He said Putin reacted negatively to some U.S. proposals and that the two sides remained divided on key issues, including the “territorial problem” — Russia’s claim to the entire Donbas region.

Ukraine continues to control roughly 5,000 square kilometers of territory that Moscow asserts as its own, although almost all countries recognize Donbas as part of Ukraine.

Witkoff later visited the U.S. Embassy in Moscow to brief the White House, Ushakov said.

While describing the talks as “constructive,” Ushakov stressed that no meeting between Putin and Trump is planned at this stage. He added that both sides had agreed not to disclose further details of the discussions.

Trump, speaking earlier in Washington, called the conflict “a mess” and said his envoys were in Moscow to explore whether a settlement was possible. He cited casualty estimates of 25,000 to 30,000 per month in the ongoing war.

Russia launched its full-scale invasion of Ukraine in February 2022, triggering the most severe confrontation between Moscow and the West since the Cold War.

Concerns Among European Allies

The talks come amid unease in European capitals after a leaked set of 28 draft U.S. peace proposals appeared in November, prompting fears that Washington was leaning too far toward Moscow’s demands. European powers subsequently drafted counter-proposals, and U.S. and Ukrainian officials said they had produced an “updated and refined peace framework” during follow-up discussions in Geneva.

Ukrainian President Volodymyr Zelenskiy, speaking in Dublin, said he feared the U.S. might lose interest in the peace process and warned against negotiations taking place “behind Ukraine’s back.”

“There will be no easy solutions,” he said. “It is important that everything is fair and open.”

Just hours before meeting Witkoff and Kushner, Putin said Russia did not seek war with Europe but warned that any conflict would end “so swiftly” that negotiations afterward would be meaningless. He also threatened to cut Ukraine’s access to the sea in response to recent drone attacks on Russia’s “shadow fleet” in the Black Sea.

Ukraine’s foreign minister, Andrii Sybiha, said Putin’s remarks showed he was not prepared to end the war.

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