President Trump. AP=Yonhap News. 

The US administration of Donald Trump stepped up pressure on Russia, which has been lukewarm about negotiating an end to the Ukraine war, by announcing additional sanctions on the country on the 22nd (local time).

The Treasury Department's Office of Foreign Assets Control (OFAC) stated on the same day, "Additional sanctions are being imposed on Russia as it is not seriously engaging in peace negotiations to end the Ukraine war."

The Treasury Department stated that these sanctions would "increase pressure on Russia's energy sector and weaken the Kremlin's (Russian government's) ability to finance the war and sustain its weakened economy."

It also added, "The United States will continue to support a peaceful resolution of the war, and lasting peace depends entirely on whether Russia is willing to negotiate in good faith," and "The Treasury Department will continue to use its sanctions authority to support peace negotiations."

Treasury Secretary Scott Bessant said, "Now is the time to stop the killing and cease hostilities immediately," and urged, "We call on our allies to join and follow these sanctions."

The companies designated for sanctions on this day were two major Russian oil companies, Rosneft Oil Company and Lukoil, and their subsidiaries.

The Treasury Department stated that these companies were designated for sanctions because they operate in the energy sector of the Russian Federation's economy, and that all entities in which these companies hold a direct or indirect stake of 50% or more will have their assets frozen.

These sanctions are drawing attention as they come amid disagreements between President Trump and Russian President Vladimir Putin regarding an end to the Ukraine war.

President Trump had previously expressed his determination to end the Ukraine war, following his leading role in the Gaza ceasefire agreement. After a phone call with President Putin on the 16th, President Trump announced that he would hold a summit between the US and Russia in Hungary within the next two weeks.

However, due to disagreements on how to end the Ukraine war confirmed during preliminary consultations between both sides ahead of the summit, the summit appears to be effectively canceled.

Russia remains steadfast in its demand that Ukraine must cede the entire Donbas region (Donetsk and Luhansk) as a prerequisite for peace negotiations.

Russia also launched missile and drone attacks on Ukraine the previous night, resulting in the deaths of six people, including two children.

Ukrainian President Volodymyr Zelensky and European leaders issued a joint statement on the 21st, urging, "We must strengthen pressure on Russia's economy and defense industry until Putin is ready to achieve peace."

Yonhap News