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
Committee Approves Truck Terminal Despite Residential Concerns
Will County Health Department Faces Funding Uncertainty as Federal Grants Under Review
Will County Land Use Meeting Briefs
Public Health and Safety Committee Meeting Briefs
Federal Reconciliation Bill Targets Medicaid, SNAP Programs
Will County Approves Modified $756 Million Transportation Plan Despite Terminology Debate
Will County completes major projects while others move forward
Will County Accepts $140,000 Developer Donation for Road Improvements
State Legislative Session Wrap-Up Shows Mixed Results
Will County expands safety initiatives across facilities
Leglislative Committee Meeting Briefs
Speed Limits Reduced on Two Township Roads
Will County Finance Committee Approves Juvenile Detention Center Upgrades
