The United States on Wednesday announced sanctions on two biggest Russian oil companies in a bid to pressurize Moscow to “immediately agree to ceasefire“. The move after US President Donald Trump expressed that his talks with Russian counterpart Putin remained futile over Ukraine war.“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 machine. Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions,” US treasury secretary Scott Bessent said in a post on X.US President Donald Trump, who has often expressed frustration over stalemate situation on Russia-Ukraine war, said that he “hoped” the sanctions were “short-lived”.“These are tremendous sanctions… And we hope that they won’t be on for long. We hope that the war will be settled,” AFP quoted Trump saying.“Every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere,” he added.The move was aimed to target “Kremlin’s ability to raise revenue for its war machine and support its weakened economy.”“Treasury is imposing further sanctions as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine. Today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy. The United States will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia’s willingness to negotiate in good faith,” the US treasury department said.