U.S. Treasury Secretary Scott Bessent announced new sanctions against the Russian Federation and called for an "immediate ceasefire" in its war against Ukraine.

The war in Ukraine has been raging for more than three years, but negotiations between President Donald Trump and Russian President Vladimir Putin appear to have come to an impasse on Wednesday.

'Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine.'

Bessent posted a statement on social media about the sanctions.

"Now is the time to stop the killing and for an immediate ceasefire. Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war ma

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