'We'll see': Trump scoffs at Putin's defiance of US sanctions
What's the story
United States President Donald Trump has reacted to Russian President Vladimir Putin's dismissal of the latest US sanctions on two major oil companies in Russia. The sanctions, imposed on Rosneft and Lukoil, were announced by the US Treasury Department on Wednesday. The department said the measures target Russia's energy sector to "degrade the Kremlin's ability to raise revenue for its war machine" and "support its weakened economy."
Economic repercussions
'I'll let you know about it in 6 months'
Responding to Putin's comments on the sanctions, Trump said, "I'm glad he feels that way. That's good. I'll let you know about it in six months from now." The Russian president had earlier called the sanctions an "unfriendly act" but downplayed their potential impact on his country's economy. "They are serious in nature and will have certain consequences, but they will not have a significant impact on the health of our economy," Putin said.
Sanctions announcement
Will lead to sharp oil price rise: Putin
Putin also said that sanctions on Russian oil could lead to "a sharp increase" in gas prices across the world. "If you take into account the domestic political calendar in the United States, it is clear how sensitive some processes would be. Those advising the current administration to adopt such measures should ask themselves whom they are really serving."
Meeting delay
Sanctions come after Trump-Putin meeting postponed
The sanctions were announced a day after a planned meeting between Trump and Putin was postponed. The reason for the reversal was unclear, but it followed the Kremlin's rejection of the US president's request for an immediate ceasefire in Ukraine. Putin said he understood why the summit was postponed, adding that "for both me and the US president, it would be a mistake to approach this lightly and then walk away without...expected result."