U.S. President Donald Trump has done a turnaround on sanctions against Russia, taking aim at Russia's two biggest oil companies and the billions of dollars they reap for Moscow's war against Ukraine.

Ukrainian President Volodymyr Zelensky has urged the United States to expand sanctions on Russia’s two biggest oil companies to the whole sector.

Russian Central Bank Governor Elvira Nabiullina addressed a news conference on Friday after the central bank cut its interest rate by 50 basis points to 16.5%.Nabiullina spoke in Russian. The quotes below were translated into English by Reuters.

Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine.

European leaders have agreed to meet Ukraine’s “pressing financial needs” for the next two years but stopped short of endorsing a plan to use frozen Russian assets to fund a loan to Kyiv.

Kirill Dmitriev, a close Putin ally, says trip was scheduled before Treasury slapped restrictions on Rosneft and Lukoil

Zelenskyy and Starmer are expected to be joined at the Foreign Office in London by NATO Secretary-General Mark Rutte, Danish Prime Minister Mette Frederiksen and Dutch Prime Minister Dick Schoof. About 20 other leaders are to join via video link in the meeting of the group dubbed the Coalition of the Willing.

Reliance Industries Ltd, the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement.