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
Policy experts unimpressed with SBA’s ‘record’ capital delivered to small businesses
City taxpayer burden swells, as Chicago pension debt rises
Poll: Voters like candidates supporting war on Alzheimer’s
U.S. LNG exports at new record in September on strong Louisiana shipments
Conservatives push Union Pacific–Norfolk Southern merger
Hamas agrees to release hostages; demands further negotiations
Report: Bipartisan support for K-12 open enrollment policy
‘End the political idiocy’: Republicans lambast Dems for tanking funding bill again
WATCH: U.S. military strikes another suspected drug boat, killing four
Des Moines Public School system hired superintendent with extensive criminal history
Pro-life group calls FDA’s approval of generic abortion pill ‘unconscionable’
USDOT puts $2.1 billion of taxpayer funds for CTA under review
