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
U.S. House, Senate, governor on Ohio primary ballots Tuesday
Will County Board Approves Tax Abatement Intent for “Project North Winds” Manufacturing Facility
Illinois lawmaker warns medical records bill could delay care
‘Farm Bill’ may ease cost burden for farmers; Ag groups urge US Senate action
Professor: Surging gas prices will have long-term effects
Illinois Quick Hits: DHS says ICE captures child sex abuser released by Illinois DOC
Durbin calls probe ‘sham’; state lawmaker backs transparency
Independent tax tribunal faces elimination by Pritzker budget proposal
Illinois Quick Hits: Civic federation funds ‘persistent structural imbalance’ in Illinois
Millions Approved for Will County Highway and Road Infrastructure Projects
Illinoisans may soon need registration, title, license to use e-bikes, scooters
Pritzker’s commission report pushes for local investigations of federal ‘brutality’
