The US has announced new sanctions targeting Russia's two largest oil companies - Rosneft and Lukoil - in an effort to pressure Moscow to negotiate a peace deal in Ukraine, BBC reported.

"Every time I speak to Vladimir, I have good conversations and then they don't go anywhere. They just don't go anywhere," President Donald Trump said, after a meeting with Nato Secretary-General Mark Rutte to discuss peace negotiations. 

The sanctions announcement came one day after Trump said a meeting planned with Russian President Vladimir Putin in Budapest would be shelved indefinitely, according to BBC.