Treasury sanctions Russian oil companies, calls for ceasefire
The U.S. Treasury Department announced sanctions against two Russian oil companies on Wednesday.
The department cited Russia’s “lack of serious commitment” to ending the war in Ukraine, according to a news release.
“Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent said. “Treasury is prepared to take further action if necessary to support President Trump’s efforts to end yet another war.”
The U.S. is targeting Open Joint Stock Company Rosneft Oil Company and Lukoil OAO in its sanction efforts, as well as 34 subsidiaries of the two oil companies.
The sanctions prohibit transactions for individuals or organizations within the United States between the Russian oil companies or their subsidiaries.
Over the summer, Trump levied tariffs against India, a Russian ally, over the nation’s purchase of Russian energy and oil. Trump cited the war in Ukraine as his reason for targeting India.
“The ultimate goal of sanctions is not to punish but to bring about a positive change in behavior,” the Treasury Department press release reads.
Partly Sunny
Latest News Stories
Reforms prompt big money appeals in IL biometrics cases
Trump delivers message of peace, hope during historic Knesset address
Meeting Summary and Briefs: Casey City Council for October 6, 2025
Casey Amends Nuisance Ordinance to Standardize Penalties
Everyday Economics: Data blackout: Why the growth narrative doesn’t hold up
Appeals Court rejects Trump administration bid to lift TRO in Illinois’
Those doxxing, threatening ICE agents, arrested, indicted
‘The Art of the Heal’: How TrumpRx, most-favored nation pricing, Big Pharma intersect
GOP stands up for U.S. military strikes on suspected drug boats
IL lawmakers could address energy prices, transit, taxes during veto session
Council Approves Over $86,000 in Infrastructure Contracts
Trump says US troops will get paid Oct. 15 despite funding lapse
