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Vladimir Putin dismissed new US sanctions, warning of global oil price hikes and stressing Russia will not bow to pressure.
Russian President Vladimir Putin
Russian President Vladimir Putin dismissed the impact of new US sanctions targeting his country’s largest oil companies, calling them an attempt to pressure Moscow and vowing that Russia would not bow to external demands.
“No self-respecting country ever does anything under pressure,” Vladimir Putin said. The Russian leader’s comments come after Washington imposed sweeping new restrictions on Rosneft and Lukoil, Russia’s two biggest oil producers, in response to the Kremlin’s refusal to agree to an immediate ceasefire in its war with Ukraine.
Vladimir Putin said he had warned US President Donald Trump that the sanctions could destabilize global energy markets and push up prices, including in the United States itself.
“We said very clearly that this would affect global oil prices, including the US,” Vladimir Putin added. The sanctions come amid heightened diplomatic tensions between Moscow and Washington over the ongoing war in Ukraine, now in its third year. The US and European allies have repeatedly urged Russia to agree to a ceasefire while Vladimir Putin has accused the West of seeking to “undermine” Russia’s sovereignty through sanctions and arms support to Kyiv.
The US Treasury Department said the sanctions were part of efforts to “limit Russia’s ability to finance its aggression.” Ukraine’s President Volodymyr Zelenskyy welcomed the move, saying it would “weaken the Kremlin’s capacity to wage war.” Russia’s foreign ministry, however, slammed the decision as “entirely counterproductive,” insisting that it would not “pose any particular problems” for the Russian economy.
Oil prices rose sharply amid concerns over tighter global supply while energy importers including India began slashing their purchases of Russian crude.
Vladimir Putin On Cancelled Donald Trump Meeting
Vladimir Putin also addressed Donald Trump’s decision to cancel a planned meeting between the two leaders, which had been scheduled to take place in Budapest in the coming weeks.
“It would be a mistake for both me and the US president to approach this lightly and come away from this meeting without the expected result,” Vladimir Putin said, noting that the summit had been proposed by the US side. He confirmed that the meeting had now been “postponed” but added that Moscow remained open to dialogue.
“Well, what can one always say? Dialogue is always better than confrontation- better than disputes, or even more so than war,” Vladimir Putin said, adding, “That is why we have always supported the continuation of dialogue, and we continue to support it now.”
October 23, 2025, 22:11 IST
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