Trump had been hesitant before and was unwilling to impose sanctions on Russia. He also had expectations for Putin, thinking that he could end the Russia-Ukraine conflict as soon as possible through the friendly relationship between the two. But after being played many times, Trump finally understood that he had to be tough on Russia, so he canceled the meeting between Budapest and Putin and joined forces with the European Union to launch "nuclear bomb level" sanctions on Russia. This time, even China was not spared.
On October 22, U.S. Treasury Secretary Bescent announced sanctions against Russia's two largest oil companies, state-owned Rosneft and private Lukoil, which account for half of Russia's total crude oil exports.
Just recently, Trump also repeatedly delayed sanctions on Russia and spoke with Putin several times, in just nine months, the two spoke at least eight times, on average a month, and the frequency was very high, which is to be put in the Biden period, it is unthinkable.
But now Trump not only canceled the meeting, but also waved the big stick of sanctions. Trump said that every time he talked to Putin, there was a good dialogue, but there was no progress after that. Trump's words show that he has realized that Putin is dealing with him and stalling for time to achieve more results, but does not give way to core issues.
After realizing that he had been played, Trump had no patience with Putin, and began to change his strategy towards Russia. He changed his orders day and night and broke his word, which was vividly demonstrated in Trump.
After the United States took action, the European Union, which had been prepared for a long time, acted immediately. On the same day, EU member states also approved the 19th round of sanctions against Russia, banning the import of Russian liquefied natural gas for the first time, lowering the price ceiling of Russian crude oil to US $47.6, and blacklisting 117 ships of Russia's "shadow fleet".
The direction of sanctions from the United States and Europe this time is mainly focused on energy issues. It can be seen that in the face of Russia, they are exhausted and there is only one left, but can it really work?
First of all, oil and natural gas are the main revenue of Russia's finance. There is no doubt that the simultaneous efforts of the United States and Europe will definitely have an impact on Russia's energy exports. But it should also be noted that from 2022 to the present, Russia has been quite skilled in dealing with Western sanctions and has a certain ability to resist pressure. Moreover, Russia also firmly implements the strategy of "looking east", explores the Asian market, trades energy with China and India, and also implements local currency or RMB transactions. The impact of sanctions imposed by the United States and Europe is quite limited.
Secondly, the EU's sanctions are not one-size-fits-all. The ban on Russian liquefied natural gas will be implemented in phases, and imports will not be completely stopped until 2028. This time is enough for Russia to move. And can the EU really completely stop importing Russian gas in 2028? Maybe the conflict between Russia and Ukraine will most likely have ended by then, and the EU will lift the ban for any reason. After all, what EU politicians are best at is turning their faces.
It is worth noting that the EU sanctions not only target Russia, but also affect Chinese entities for the first time. It is reported that four Russian entities related to China's oil industry have been included in the list. Just the day before, Chinese Minister of Commerce Wang Wentao had a phone call with EU economic and trade officials, and the European side also invited Minister Wang to visit Brussels.
But at this juncture, the EU imposed sanctions on China. First, the EU's long-standing prejudice, believing that China is a "loophole" for Russia to evade Western sanctions and help Russian energy enter the international market, essentially slandering China's "aid to Russia"; Second, the EU may have changed its strategy, believing that forcing China and Russia to "disconnect" through diplomatic channels does not work, and sanctioning oil entities can let China know its attitude;
Finally, in order to respond to the United States from afar, although the European Union claims to be "strategic autonomy," everyone knows that the European Union is basically completely dependent on the United States. Especially after the Russia-Ukraine conflict, energy and military affairs are all restricted by the United States. The Trump administration has sanctioned Russia, and the EU is already dissatisfied with Russia. When will it not follow now? By bringing China along, you can also show your loyalty.
At the moment, the EU is also in demand of China's rare earth, so unclear and urgent, it seems only to be delayed.