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 signs bill to release Epstein files
WATCH: Dysolve AI offers approach to dyslexia in schools
Inventors back effort to tackle intellectual property thefts
WATCH: Dems leave hearing before minority group’s testimony on Biden border policies
Illinois quick hits: ICC approves smaller rate increases
WATCH: Ex-Illinois governor pushes for ‘millionaire’s surcharge’ amendment
Lawmakers weigh replacing Obamacare tax credits with health savings accounts
Feds: Guilty plea hearings scheduled for Antifa members indicted on terror charges
Lawyers call legal immigration crackdown harmful
WATCH: Illinois continues work to reduce state’s high SNAP error rate
Border Patrol agents arrest illegal CDL drivers in upstate New York
ACA premiums projected to rise 26% in 2026, far above U.S. inflation
