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
Supreme Court blocks ICE contractor immunity appeal
Report: Patchwork state food laws could raise grocery prices 12% nationwide
Trump calls out Minnesota in State of the Union, prompting Democrat protests
Parents could gain access to school discipline evidence under proposed bill
State of the Union highlighted political fracture between Democrats, Trump
Illinois Democrats dispute Trump statements during State of the Union
Illinois Quick Hits: State taxpayers to help restore historic Chicago hotel
Trump moves ahead with tariff plans after Supreme Court ruling
Illinois racial wealth gap among largest in country
Judge: Right to sue under IL biometrics law too important to end suit vs Meta
Executive Committee: Tension Rises as Republican Whip Removed from Panel
Ad-Hoc Committee: County Stripped of Power to Regulate Motor Races, Must Drop Solicitor Fees Due to State Statutes
Commission Overrides Staff Recommendation, Approves Manhattan Township Barn Expansion
Chicago could owe $100M+ in refunds for excessive city tickets
