Goa, Oct. 23 -- The United States announced fresh sanctions on Russia's two largest oil companies on Wednesday (local time), citing Moscow's "lack of serious commitment to a peace process to end the war in Ukraine."

The move comes amid repeated claims by US President Donald Trump that Prime Minister Narendra Modi has assured him India will "not buy much oil" from Russia.

In a post on Truth Social, Trump shared a statement from the US Department of the Treasury titled 'Treasury sanctions major Russian oil companies, calls on Moscow to immediately agree to ceasefire'. The sanctions target Open Joint Stock Company Rosneft Oil Company (Rosneft) and Lukoil OAO (Lukoil).

"Given President Putin's refusal to end this senseless war, Treasury is...