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
WATCH: Homeland Security arrests ICE protesters with guns; Bailey seeks Pritzker rematch
Lincoln-Way Board Weighs Community Solar Program Promising $155,000 in Annual Savings
Will County Reverses Zoning on Peotone Farmland to Facilitate 10-Acre Sale
Meeting Summary and Briefs: Joliet Junior College Board of Trustees for September 10, 2025
Lincoln-Way 210 Board Approves $172.7 Million Budget with Planned Deficit for Bus Purchases
Lawmakers push for transit reform, funding despite delayed fiscal cliff
Miller files ‘parental rights’ constitutional amendment, blasts Illinois’ policies
Will County to Pay Enbridge $82,000 to Relocate Pipeline Equipment for Exchange Street Improvements
Laraway Road Widening Project in New Lenox and Frankfort Gets Additional $468,000 for Redesign
“Federal Policy Uncertainty” Blamed for Delay of Peotone Solar Farm; County Grants Second Extension
Will County Grants Extensions to Five Solar Projects Sold to New Developers
Will County Board Approves Controversial Drug Recovery Retreat in Crete Township
