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.
Mostly Sunny
Latest News Stories
Advocates warn of looming debt crisis
Bears want more after Illinois House passes megaproject tax incentive bill
DHS wants millions more from taxpayers after federal SNAP changes
Illinois Millionaires Tax doesn’t get support
Pritzker bans insider trading by state employees, faces hypocrisy claims
Autism care providers, parents urge change in ownership mandate
Illinois Quick Hits: Bears want more from state
Bears, megaprojects tax incentive bill heads to Senate after clearing House
House Dems pass redistricting amendment GOP says will lead to more gerrymandering
City Council Approves 4% Pay Increase for Appointed Officials
Illinois Quick Hits: Governor announces green tax credits for film and TV
‘Plaintiffs’ lawyer paradise:’ IL lawsuit-friendly courts jack up costs, report says
