U.S. Announces New Sanctions on Russia's Rosneft, Lukoil


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) - The U.S. Treasury Department announced on Wednesday 
(10/22) additional sanctions on Russia with regards to the war in Ukraine, 
targeting two of Moscow's largest oil companies, Rosneft and Lukoil.

   According to the Treasury's Office of Foreign Assets Control (OFAC), the 
sanctions will immediately block all property and interests of Rosneft and 
Lukoil that operate in the U.S. or are under the control of U.S. persons.

   The U.S. has escalated sanctions against Russia following Moscow's decision 
to embark on a full-scale invasion of Ukraine in February 2022. The latest 
measures specifically aim to degrade Russia's ability to monetize its vast oil 
resources to fuel the war in Ukraine.

    




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