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
Administration presses law school accreditor over DEI policies
Speaker’s response to staffer assault complaint draws questions on his own conduct
Republicans’ $95B budget resolution passes House
$1.15T Pentagon funding authorization bill passes U.S. House
Lawmakers debate GLP-1 regulation, expansion
Illinois news in brief: Ex-Big Ten Network staffer gets 2 years in embezzlement case
New quantum tenant gets $1.8 million in tax credits
Proposal would term-limit Supreme Court justices without amendment
Pritzker says felon was unlucky to land in his back yard
Chicago council approves ballot question to recoup costs from ICE operations
Anti-ICE ‘extremist’ charged with arson in attack outside NYC federal building
World Cup events safe; terrorism, antisemitism concerns don’t materialize
