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.
Sunny
Latest News Stories
Report: Human Rights Campaign pressures transgender procedures on minors
Everyday Economics: Housing market and Fed policy in focus in the week ahead
Businesses brace for new tax challenges amid global tariff focus
Illinois takes over health insurance marketplace in 2026 amid skepticism
WATCH: IL state reps challenge IEMA-OHS responses to local agencies
Meeting Summary and Briefs: Casey Township Library Board of Trustees for June 26, 2025
Judge expands restraining order against ‘Beto’ O’Rourke, adds ActBlue
Reversing Biden’s precedent, students complete FAFSA in minutes at beta-testing event
Trump, Zelenskyy to meet Monday in steps toward peace with Russia
Casey Library Reports High Turnout for Summer Reading and Imagination Library Programs
Possible ‘agreement’ reached in Trump-Putin meeting; more discussion likely
