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.
Chance Showers And Thunderstorms
Latest News Stories
Google says Biden admin ‘pressed’ it to censor some COVID-19 content
Judge’s questions during IL gun ban arguments gives rights advocates ‘hope’
Illinois agencies to post monthly investment reports, lawmaker calls symbolic
Illinois quick hits: Pritzker orders ‘efficiencies’ for state spending; Marshalls recover missing child
WATCH: AR15s protected by 2nd Amendment; advocate reacts to appeals court hearing
Fiscal Fallout: Illinois spending swells 43% under Pritzker
Lake Land College to Name Nursing Simulation Lab for HSHS St. Anthony’s After Major Gift
New Incentives and Homecoming Plans Underway at Casey-Westfield Schools
White House does not expect arrests of sanctuary mayors and governors
ICE puts California, Illinois, New York on notice for refusing to cooperate
Appeals judge questions ‘uphill battle’ for IL gun ban found unconstitutional
Illinois library staff to be trained with overdose antidotes under new law
