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
Board Approves Engineering Contracts for Mokena Road Widening
Experts call for probe after Microsoft left out China ties in Pentagon security plan
FBI raids the home of John Bolton
Will County Executive Proposes $791 Million Budget Focused on Stability Amidst Economic Uncertainty
Peotone School Board Rejects Mandating Live-Streaming in 4-3 Vote
WATCH: Detransitioner gets a second chance at medical malpractice lawsuit
WATCH: CA Democrats pass congressional redistricting plan
Pew: U.S. immigrant population declines for first time in nearly 60 years
WATCH: Illinois’ FY23 financial audit released amid criticism of tardy reports
European Union says U.S. consumers will end up paying tariffs
Illinois quick hits: Anti-SLAPP bill signed; Chicago schools settles meditation case
U.S.-EU trade deal includes ceiling for European pharmaceutical imports
