"The United States imposed what it said were "major" sanctions on Russian oil companies on October 22, saying the action was "a result of Russia's lack of serious commitment to a peace process to end the war in Ukraine." The measures are designed to increase pressure on Russia's energy sector and "degrade" the Kremlin's ability to raise revenue for its war machine, the Treasury Department said in a news release outlining the sanctions."
""Given President Putin's refusal to end this senseless war, Treasury is sanctioning Russia's two largest oil companies that fund the Kremlin's war machine," Treasury Secretary Scott Bessent said in the news release. "We encourage our allies to join us in and adhere to these sanctions." The Treasury Department added that the United States will continue to advocate for a peaceful resolution to the war, but said a permanent peace "depends entirely on Russia's willingness to negotiate in good faith.""
On October 22 the United States imposed major sanctions targeting Russia's two largest oil companies, Rosneft and Lukoil, and several subsidiaries, aiming to increase pressure on Russia's energy sector and degrade Kremlin revenue used to fund the war in Ukraine. The Treasury Department said sanctions followed Russia's lack of serious commitment to a peace process. Treasury Secretary Scott Bessent said the measures punished Putin's refusal to end the war and urged allies to join. The United States said it will continue to advocate for a peaceful resolution but that permanent peace depends on Russia negotiating in good faith. The moves followed stalled summit plans with Russia.
Read at RadioFreeEurope/RadioLiberty
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