Washington, Oct 23 (NationPress) In a significant move during his second term, US President Donald Trump has enacted fresh sanctions against Russia, focusing on its two dominant oil corporations as part of his ongoing efforts to resolve the Ukraine crisis.

The US Treasury Department has singled out Russian firms Rosneft and Lukoil, along with their subsidiaries, cautioning that further actions may follow.

While hosting NATO Secretary General Mark Rutte at the White House, Trump expressed optimism that the conflict could soon reach a resolution.

“These sanctions are substantial. They target the two major oil companies, and we hope their duration will be brief. We are hopeful for a resolution to the war,” he remarked.

Trump acknowledged that his earlier discussions with Russian President Vladimir Putin had yet to yield any meaningful outcomes.

“Every time I converse with Vladimir, the discussions seem promising, yet they lead nowhere. He is engaged in a war, and it’s a situation with two highly capable adversaries. In war, outcomes are unpredictable, but I believe it is time for a deal,” he stressed.

On Tuesday, Trump opted to cancel his planned meeting with Putin in Budapest, expressing a desire to avoid a “wasted meeting.”

He later stated, “It didn’t feel appropriate to me.”

“We canceled the meeting with President Putin as it didn’t seem like we could achieve anything significant. However, we will reschedule for the future,” he added.

This decision came after a phone call between US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov on Monday.

Last week, Trump engaged in a two-and-a-half-hour phone conversation with the Russian leader, claiming that “great progress” was made.

The day following this call, Trump welcomed his Ukrainian counterpart, Volodymyr Zelensky, at the White House, describing their meeting as “very interesting and cordial.”

“The meeting with President Zelensky was quite engaging and friendly, but I conveyed to him, as I did with President Putin, that it is time to halt the violence and negotiate a DEAL!” Trump posted on Truth Social.

He also urged both leaders to “cease hostilities” and “declare victory.”

After successfully mediating a ceasefire in Gaza, Trump has redirected his focus toward the Russia-Ukraine war, intensifying his efforts to bring about peace.

Trump’s highly publicized summit with Putin in Alaska in August concluded without any agreements.