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.
Showers And Thunderstorms
Latest News Stories
Suspect Captured in Execution-Style Murder of Momence Bar Owner
First lady meets with former Oct. 7 hostages
Supreme Court declines challenge to California’s congressional map
Candidate: $243 million in unlawful spending is example of ‘Preckwinkle’s mismanagement’
GOP lawmakers urge Thune to tweak filibuster rules to pass voter ID bill
Illinois housing crunch sees prices rising, units dwindling
700 federal agents to leave Minnesota, Homan says
New York, New Jersey sue feds over Hudson Tunnel funding cuts
Parents sound alarm over Illinois high school voter registration bill
Illinois Quick Hits: Violent Crime down, arrest rates up in Chicago
Judicial manual pushes climate agenda, critics say
Meeting Summary and Briefs: Will County Planning and Zoning Commission for Jan. 20, 2026
