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.
Latest News Stories
Trump takes aim at Chicago crime, no-cash bail while singling out Pritzker
Burrows: Only thing standing in the way of disaster relief are missing Democrats
Trump confirms Nvidia chip agreement
States challenge federal report promoting coal plants
U.S. Supreme Court could rule on Texas lawsuits brought in Democratic-led state courts
WATCH: Illinois In Focus Daily | Monday Aug. 11th, 2025
Illinois quick hits: Judge denies Madigan’s motion; legislator urges action on DCFS interns
Everyday Economics: CPI takes center stage as tariff-driven price pressures mount
Details pending on billions in foreign investments coming from trade deals
Negative net migration is harmful to the economy, economists say
Will County Health Department Seeks $1 Million to Avert ‘Drastic’ Service Cuts from Expiring Grants
Will County’s “First-in-Nation” Veterans Center to House Workforce Services, Sparking Debate
Improved Vendor Service Creates $1.2 Million Shortfall in Sheriff’s Medical Budget
Will County Public Works Committee Unveils 25-Year Transportation Plan, Projects $258 Million Gap
