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
Person of interest in custody in deadly Brown University shooting
Congress drags on full year funding bills, risking second shutdown
Economists question necessity of farm bailout, say tariffs don’t help
Warriors open LIC play with convincing win over Robinson
Exclusive: First Nation reservation grappling with transnational crime
Illinois legalizes physician-assisted suicide; critics warn of moral, safety risks
Fast start, defensive intensity carry Casey-Westfield past Red Hill
IL Dem touts ‘great job’ on transit, GOP candidate laments ‘bailout’ for Chicago
Bill designed to protect school kids from sexual misconduct
Illinois quick hits: More bills enacted into law; former ComEd CEO seeking Trump pardon
Pritzker enacts bills, including measure decoupling IL from federal tax code
Judge overreached in ordering hundreds of illegal immigrants released
