The US Department of the Treasury on Wednesday (local time) imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.

The sanctions aim to degrade Russia’s ability to raise revenue for its war machine and support its weakened economy.

“Today’s actions 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. 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. Treasury will continue to use its authorities in support of a peace process,” the US Treasury’s statement read.

“Now is the time to stop the

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