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
Will County Committee Adds Path to Citizenship Support to Federal Agenda
Health Department Outlines Major Reduction in Consensus Vaccine Schedule
Peotone Staves Off Herscher Comeback for 28-25 Victory
Public Works Committee Forwards Condemnation Proceedings for Francis and Marley Road Improvements
Finance Committee: Scholarship Tax Credit Discussion Halts
Newsom predicts smaller budget shortfall than state agency
Colorado ordered to pay $5.4M after abortion law blocked
Will County Health Department Reports Rise in Respiratory Illnesses, Updates on Facility Issues
Public Works Committee Delays Vote on State Police License Plate Cameras Amid Privacy Concerns
Four Republicans certified for primary to take on Pritzker
Illinois quick hits: State sues over frozen funds; Nicor Gas seeks rate hike
Treasury, IRS ramp up investigation into Minnesota fraud
