PANews reported on October 23rd that according to a statement on Wednesday, the US Treasury Department blacklisted Russian state-owned oil giants Rosneft and Lukoil due to "Russia's lack of a serious commitment to end the conflict." The US Treasury also sanctioned a series of subsidiaries of the two companies in Russia, freezing all entities in which the two companies directly or indirectly hold a 50% or greater stake. According to agency estimates, the two companies together accounted for nearly half of the country's total crude oil exports, approximately 2.2 million barrels per day in the first half of this year. Taxes from the oil and gas industry account for approximately a quarter of Russia's federal budget. The US Treasury statement said the move would undermine Russia's ability to raise revenue for its conflict. Bessant said the Treasury Department is prepared to take further action if necessary. US President Trump said he did not think it was "appropriate" to meet with Russian President Vladimir Putin and canceled his meeting with Putin in Budapest. Trump said he thought it was time to impose sanctions on Russia and he hoped the sanctions would not last too long.PANews reported on October 23rd that according to a statement on Wednesday, the US Treasury Department blacklisted Russian state-owned oil giants Rosneft and Lukoil due to "Russia's lack of a serious commitment to end the conflict." The US Treasury also sanctioned a series of subsidiaries of the two companies in Russia, freezing all entities in which the two companies directly or indirectly hold a 50% or greater stake. According to agency estimates, the two companies together accounted for nearly half of the country's total crude oil exports, approximately 2.2 million barrels per day in the first half of this year. Taxes from the oil and gas industry account for approximately a quarter of Russia's federal budget. The US Treasury statement said the move would undermine Russia's ability to raise revenue for its conflict. Bessant said the Treasury Department is prepared to take further action if necessary. US President Trump said he did not think it was "appropriate" to meet with Russian President Vladimir Putin and canceled his meeting with Putin in Budapest. Trump said he thought it was time to impose sanctions on Russia and he hoped the sanctions would not last too long.
The US Treasury Department sanctions two major Russian oil companies, and Trump cancels his meeting with Putin
PANews reported on October 23rd that according to a statement on Wednesday, the US Treasury Department blacklisted Russian state-owned oil giants Rosneft and Lukoil due to "Russia's lack of a serious commitment to end the conflict." The US Treasury also sanctioned a series of subsidiaries of the two companies in Russia, freezing all entities in which the two companies directly or indirectly hold a 50% or greater stake. According to agency estimates, the two companies together accounted for nearly half of the country's total crude oil exports, approximately 2.2 million barrels per day in the first half of this year. Taxes from the oil and gas industry account for approximately a quarter of Russia's federal budget. The US Treasury statement said the move would undermine Russia's ability to raise revenue for its conflict. Bessant said the Treasury Department is prepared to take further action if necessary.
US President Trump said he did not think it was "appropriate" to meet with Russian President Vladimir Putin and canceled his meeting with Putin in Budapest. Trump said he thought it was time to impose sanctions on Russia and he hoped the sanctions would not last too long.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
US Prosecutors Seek 12-Year Prison for Do Kwon Over Terra Collapse
Highlights: US prosecutors requested a 12-year prison sentence for Do Kwon after the Terra collapse. Terraform’s $40 billion downfall caused huge losses and sparked a long downturn in crypto markets. Do Kwon will face sentencing on December 11 and must give up $19 million in earnings. US prosecutors have asked a judge to give Do Kwon, Terraform Labs co-founder, a 12-year prison sentence for his role in the remarkable $40 billion collapse of the Terra and Luna tokens. The request also seeks to finalize taking away Kwon’s criminal earnings. The court filing came in New York’s Southern District on Thursday. This is about four months after Kwon admitted guilt on two charges: wire fraud and conspiracy to defraud. Prosecutors said Kwon caused more losses than Samuel Bankman-Fried, Alexander Mashinsky, and Karl Sebastian Greenwood combined. U.S. prosecutors have asked a New York federal judge to sentence Terraform Labs co-founder Do Kwon to 12 years in prison, calling his role in the 2022 TerraUSD collapse a “colossal” fraud that triggered broader crypto-market failures, including the downfall of FTX. Sentencing is… — Wu Blockchain (@WuBlockchain) December 5, 2025 Terraform Collapse Shakes Crypto Market Authorities explained that Terraform’s collapse affected the entire crypto market. They said it helped trigger what is now called the ‘Crypto Winter.’ The filing stressed that Kwon’s conduct harmed many investors and the broader crypto world. On Thursday, prosecutors said Kwon must give up just over $19 million. They added that they will not ask for any additional restitution. They said: “The cost and time associated with calculating each investor-victim’s loss, determining whether the victim has already been compensated through the pending bankruptcy, and then paying out a percentage of the victim’s losses, will delay payment and diminish the amount of money ultimately paid to victims.” Authorities will sentence Do Kwon on December 11. They charged him in March 2023 with multiple crimes, including securities fraud, market manipulation, money laundering, and wire fraud. All connections are tied to his role at Terraform. After Terra fell in 2022, authorities lost track of Kwon until they arrested him in Montenegro on unrelated charges and sent him to the U.S. Do Kwon’s Legal Case and Sentencing In April last year, a jury ruled that both Terraform and Kwon committed civil fraud. They found the company and its co-founder misled investors about how the business operated and its finances. Jay Clayton, U.S. Attorney for the Southern District of New York, submitted the sentencing request in November. TERRA STATEMENT: “We are very disappointed with the verdict, which we do not believe is supported by the evidence. We continue to maintain that the SEC does not have the legal authority to bring this case at all, and we are carefully weighing our options and next steps.” — Zack Guzmán (@zGuz) April 5, 2024 The news of Kwon’s sentencing caused Terraform’s token, LUNA, to jump over 40% in one day, from $0.07 to $0.10. Still, this rise remains small compared to its all-time high of more than $19, which the ecosystem reached before collapsing in May 2022. In a November court filing, Do Kwon’s lawyers asked for a maximum five-year sentence. They argued for a shorter term partly because he could face up to 40 years in prison in South Korea, where prosecutors are also pursuing a case against him. The legal team added that even if Kwon serves time in the U.S., he would not be released freely. He would be moved from prison to an immigration detention center and then sent to Seoul to face pretrial detention for his South Korea charges. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Share
Coinstats2025/12/06 02:14
ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse
By using this collaboration, ArtGis utilizes MetaXR’s infrastructure to widen access to its assets and enable its customers to interact with the metaverse.
Share
Blockchainreporter2025/09/18 00:07
XRP Price Prediction: Double Bottom Near $1.80 Signals Potential Reversal Toward $2.70 Despite Market Weakness
XRP traders are watching the charts closely as emerging technical patterns and shifting sentiment signal a potential momentum reversal at a key support level.
Share
Brave Newcoin2025/12/06 01:00