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.
Chance Rain Showers then Partly Sunny
Latest News Stories
Streator Capitalizes on Eight Peotone Errors to Secure 8-6 Victory
Some blame taxes as Illinois grows on paper but loses residents
Illinois quick hits: Cannabis company sued for alleged sexual harassment; Reparations class action suit to proceed; Disaster declaration approved for August 2025 storms
Manhattan Firefighters Extinguish Chimney Fire on South Egyptian Trail
One Dead, Two Hospitalized Following Overnight Shooting at Crete Family Party
Phoenix renames Cesar Chavez Day, imposes limits on ICE
Gas prices approach $4 a gallon in U.S., $6 in California
Rep: $111 million for community violence intervention is out of touch
Congress requests documents after reports on California hospice fraud
California, Arizona work on removing Cesar Chavez’s name
Maryland climate ruling tees up U.S. Supreme Court case
IL committee advances speaker’s bill to restrict federal detention centers
