Trump Cancels Putin Meeting, Urges Ceasefire
Trump announced a new package of sanctions against Russia targeting Rosneft and Lukoil during his Oval Office meeting with NATO Secretary General Mark Rutte. Details of the sanctions were then officially released via a US Treasury Department press release on Thursday, while also canceling the planned meeting with Putin and calling for an accelerated ceasefire in Ukraine.
The European Union moved in line with the 19th package of sanctions. The immediate impact sent oil prices soaring 5%, and several Asian buyers (China/India) considering cutting Russian imports.
Market & Energy Effects: The oil rally continues, US diesel also surges, and refinery margins widen; the impact on Russian companies and payment channels is under scrutiny due to their exposure to sanctions and the Western banking system.
Moscow's Response: Putin rejected US pressure, warned of consequences in the event of a military escalation, and said sanctions would not cause Russia to change course anytime soon.
Source: Newsmaker.id