- OFAC (Office of Foreign Assets Control) is designating a number of Russia based Rosneft and Lukoil subsidiaries
- All entities owned 50% or more, directly or indirectly, by Rosneft and Lukoil are blocked even if not designated by OFAC.
It’s becoming increasingly evident that Vladimir Putin has a habit of overpromising and underdelivering—likely by design. Last week, Putin spoke with President Trump ahead of Trump’s scheduled meeting with Ukrainian President Zelenskyy, and appears to have successfully discouraged any consideration of supplying Tomahawk missiles to Ukraine.
The two leaders had also agreed in principle to meet in Budapest, pending preliminary discussions between their respective staffs. However, those preparatory talks failed to produce any meaningful progress, prompting President Trump to postpone the summit altogether.
Recall that President Trump and Vladimir Putin met in Alaska, where Trump had anticipated progress toward a potential peace agreement. That expectation, however, failed to materialize, and the aftermath has strained relations and eroded trust between the two leaders ever since their initial handshake on the airport tarmac, followed by a brief ride together in the presidential limousine.
