Putin Downplays Economic Impact Of 'Serious' US Sanctions On Russian Oil Giants, Cautions Against Tomahawk Missile Strike

Russian President Vladimir Putin on Thursday (23 October) acknowledged that fresh US sanctions on Russia’s leading oil producers were “serious,” but insisted they would not have a major effect on the country’s economy.

The Trump Administration in the United States on Wednesday (22 October) imposed sanctions on Rosneft and Lukoil — Russia’s largest oil companies — marking the first such action since President Donald Trump resumed office.

"They (sanctions) are serious for us, of course, that is clear. And they will have certain consequences, but they will not significantly impact our economic well-being," Putin said.

Calling the measures an “unfriendly act,” Putin said they would hinder the fragile recovery of Russia–US relations.

US President Trump, who initially sought to rebuild ties with Moscow, has grown frustrated over Putin’s refusal to agree to a ceasefire, reportedly saying peace talks were “not going anywhere.”

Trump delayed new punitive measures for several months, but imposed sanctions after a planned summit with Putin in Budapest fell through.

Despite the sanctions and the cancelled summit, Putin signaled continued willingness for dialogue with Washington.

"Dialogue is always better than confrontation or any disputes, and especially war. We have always supported the continuation of dialogue," Putin said.

However, Putin warned that if Russia were targeted with US Tomahawk missiles — a request reportedly made by Ukraine — the response would be “very strong, if not overwhelming.”

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Also Read: Trump Hits Russia’s Oil Giants With Major Sanctions After Collapsed Peace Talks