Putin calls US sanctions an 'unfriendly act'

Russian President Vladimir Putin remained defiant on Thursday after U.S. President Donald Trump hit Russia's two biggest oil companies with sanctions to pressure the Kremlin leader to end the war in Ukraine, a move that pushed global oil prices up 5%. Putin derided the sanctions as an unfriendly act, saying they would not significantly affect the Russian economy and talked up Russia's importance to the global market. He warned a sharp supply drop would push up prices and be uncomfortable for countries like the United States. "This is, of course, an attempt to put pressure on Russia," Putin said. "But no self-respecting country and no self-respecting people ever decides anything under pressure."

Asked about Putin comment that the new sanctions would not have significant impact, Trump told reporters later on Thursday: "I'm glad he feels that way. That's good. I'll let you know about it in six months from now." With Ukraine asking U.S. and European allies for long-range missiles to help turn the tide in the war, Putin also warned that Moscow's response to strikes deep into Russia would be "very serious, if not overwhelming".