STORY: U.S. President Donald Trump on Wednesday (October 22) imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war.

The U.S. Treasury Department said it was prepared to take further action as it called on Moscow to agree immediately to a ceasefire in Russia's war in Ukraine, which began in February 2022.

The sanctions are a major policy shift for Trump, who had not put sanctions on Russia over the war and instead relied on trade measures. Trump imposed additional 25% tariffs on goods from India in retaliation for it purchasing discounted Russian oil.

The U.S. has not imposed the tariffs on China, another major buyer of Russian oil. A $60 price cap on Russian oil imposed by Western countries after Russia's invasion has shifted Russia's oil customers in recent years from Europe to Asia.

Trump told reporters in the Oval Office on Wednesday he had canceled a planned summit in Hungary with Putin because it didn't feel like it was the right time.

Trump also said he hopes the sanctions on Russian oil companies will not need to be in place for a long time.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: U.S. PRESIDENT, DONALD TRUMP MEETING WITH NATO SECRETARY GENERAL, MARK RUTTE IN THE OVAL OFFICE / TRUMP AND RUTTE SPEAKING ABOUT RUSSIA AND UKRAINE

SHOWS: WASHINGTON D.C., UNITED STATES (OCTOBER 22, 2025) (UNRESTRICTED POOL – Access all)

1. U.S. PRESIDENT, DONALD TRUMP MEETING WITH NATO SECRETARY GENERAL, MARK RUTTE IN THE OVAL OFFICE

2. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“We canceled the meeting with President Putin. It just, it didn't feel right to me. It didn't like we were going to get to the place we have to get, so I canceled it. But we'll do it in the future. But next week, we'll be with many of you in those locations that I told you. Then it's back, back to Washington.”

3. TRUMP AND RUTTE AT MEETING

4. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“Yeah, it's a good question. Today is a very big day in terms of what we're doing. Look, these are tremendous sanctions. These are very big. Those are against their two big oil companies. And we hope that they won't be on for long. We hope that the war will be settled. We just answered having to do with the various forms of missiles and everything else that we're looking at. But we don't think that's going to be necessary. We would like to see them just take the line that has been formed over quite a long period of time and go and let's, you know, go home. Last week they had almost 8,000 soldiers killed. Many Russians were killed last week. Many Ukrainians were killed this week. We think it's ridiculous, and we'd like to have it end.”

5. JOURNALISTS AT MEETING

6. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“[Asked if the sanctions will push Putin to the negotiating table] I don't know that they will. I think that they'll certainly have an impact there. They’re massive sanctions and sanctions on oil. The two biggest oil companies, among the biggest in the world. But they're Russian. They do a lot of oil. And hopefully, it'll push, hopefully, he'll become reasonable and hopefully Zelenskiy will be reasonable, too. You know, it takes two to tango, as they say. And we're going to find out. They've had, they hate each other. These two people hate each other. You know that better than anybody. And it makes it more difficult than it should be.”

7. WIDE OF MEETING

8. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“I just felt it was time [for sanctions]. We've waited a long time. I thought that we'd go long before the Middle East. And, Mark, as you know, we did the Middle East plus seven. So we did seven different wars from Pakistan and India to so many. Which they said was impossible to do. All these wars I did, and the one that we have left, we have one left. It'll be nine. We have one left, and I think we'll get that done, too. I think we’re on our way to getting it done.”

9. JOURNALISTS AT MEETING

10. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“Well, the problem with the Tomahawk that a lot of people don't know, it'll take a minimum of six months, usually a year, to learn how to use them. They're highly complex. So the only way a Tomahawk is going to be shot is if we shot it. And we're not going to do that. But there is a tremendous learning curve with the Tomahawk. It's a very powerful weapon, very accurate weapon, and maybe that's what makes it so complex. But it will take a year. It takes a year of intense training to learn how to use it. And we know how to us it, and we’re not going be teaching other people. It will be, it's too far out into the future.”

11. JOURNALISTS

12. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“I think they want peace. I think both want peace at this point. It's been, you know, it's almost four years. You're going into four years, and if I were president, it never would have started. But yeah, it’s time.”

13. JOURNALISTS

14. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“Well, I think that in terms of honesty, the only thing I can say is every time I speak with Vladimir, I have good conversations, and then they don't go anywhere. They just don't go anywhere, so in that sense. But no, look, he's fighting a war. He's in a war. That's two very competent sides, and that's the way war is. You never know with war, but I would say that it's time to make a deal. A lot of people are dying.”

15. JOURNALISTS

16. (SOUNDBITE)(English) NATO SECRETARY GENERAL, MARK RUTTE, SAYING:

“What the President is doing today with these sanctions is putting more pressure, of course, on both parties, in this case on Russia. It's all about changing the calculus, making sure that Putin understands that the President's vision this weekend of having a ceasefire, stop where they are, as you literally said, that this has to be step one now. And for him to really accept that vision and to come to the table. And then you have to put pressure, and this is exactly what he did today.”

17. WIDE OF MEETING

18. (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING:

“[Asked if he feels Putin wants to take all of Ukraine] I always felt that way. I always thought he wanted to. When I was in my first term, I was with, you know, I was very close to him relatively speaking. It was harder because of the Russia, Russia, Russia hoax. But I would talk to President Putin about Ukraine and it was the apple of his eye, I'd say. It was the Apple of his Eye. But it would have never happened. He knew the consequences were too great. When we had a rigged election and all of a sudden I wasn't there, he said, wow. I think he looked at Afghanistan, how horribly that was handled, so stupidly. And I think that really gave him a little additional incentive. I always felt he wanted the whole thing, not a piece of it. But I think now he's willing to negotiate a little bit further. And I think he's willing to make a deal. We'll see. We don't want him to have the whole thing.”

19. WIDE OF MEETING