A statement from the US Department of Treasury reported that this step was taken due to Russia’s lack of serious commitment to a peace process to end the war in Ukraine.
The statement noted that Russia’s two major oil companies, Rosneft and Lukoil, were added to the sanctions list, and that these companies’ subsidiaries were also included.
The statement conveyed that the sanctions will increase pressure on Russia’s energy sector and “degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy.”
It was stated in the release that the US Treasury Department will continue to use its authorities to support the peace process, adding that “The United States will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia’s willingness to negotiate in good faith.”
US Treasury Secretary Scott Bessent, whose views were included in the statement, also noted that the two largest Russian oil companies, which finance the war, were sanctioned due to Russian President Vladimir Putin’s refusal to end the war.
Bessent stated, “The Treasury Department is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions.”
