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
Pritzker signs energy omnibus with new charge for ratepayers in 2030
Illinois quick hits: Primary election ballot certified; indictments increased in 2025
Trump orders $200 billion mortgage bond buy to lower rates
Coal and power groups back UP–Norfolk Southern rail merger
WATCH: U.S. House votes to extend ACA subsidies, heads to Senate
Report details sexual abuse, falsified grant applications at Chicago Public Schools
Signature shortfalls knock multiple candidates off Illinois ballot
WATCH: Vance addresses Minneapolis shooting, questions leftwing influence
U.S. House clears $180B funding bills to avoid Jan. 30 shutdown
IL state lawmaker pushes back as analysis finds municipalities lost $10.9B
Trump invites Colombian president to White House
WATCH: Pritzker says receipts shown ‘all the time’ as audits show weaknesses
