Dhaka, Oct. 23 -- The United States hit Russia's major oil companies with sanctions on Wednesday and accused the Russians of a lack of commitment toward ending the war in Ukraine, as Moscow conducted a major training exercise involving nuclear arms.

The new sanctions were unveiled one day after plans for a summit between US President Donald Trump and Russian President Vladimir Putin fell apart. Trump told reporters he cancelled the meeting because "it didn't feel right to me."

The US Treasury Department said Russia's two largest oil companies, Rosneft and Lukoil, were targeted in a bid to damage Moscow's ability to fund its war machine, reports Reuters.

The move marked a sharp turnaround for the White House, which has veered between pr...