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
Report: State reliance on federal funds up significantly since 1990s
Southwest low on list of safest states; Northeast at the top
Washington state attorney general agrees to protect seal of confession
Pacific Northwest journalists sound off on Antifa at President Trump’s roundtable
Nvidia will pay 100k visa fees, others unsure
‘Shameful:’ GOP leaders frustrated with Dems on tenth day of shutdown
Trump snubbed by Nobel Committee, praised by winner
Will County Committee Approves Preliminary $161.6M Tax Levy on Split Vote Amid Heated Debate Over Spending
Will County Eyes Major Overhaul to Consolidate Scattered Government Offices
Trump threatens tariffs on China over ‘hostile’ rare earths policy
Illinois legislator urges school discipline to focus on behavior, not race
WATCH: Trump appeals Guard TRO as DHS looks to ‘double down’ law enforcement in Chicago
