The new restrictions target 2 major oil companies, Rosneft and Lukoil

The US has imposed additional sanctions on Russia, citing its "lack of serious commitment to a peace process."

The new restrictions target two of Russia's largest oil companies, Rosneft and Lukoil, US Treasury Department said in a statement on Wednesday.

"Now is the time to stop the killing and for an immediate ceasefire," Secretary of the Treasury Scott Bessent stressed. "Treasury 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."

The restrictions also apply to subsidiaries of Lukoil and Rosneft located in Russia for "operating or having operated in the energy sector of the Russian Federation economy," the statement reads. The list includes 34 subsidiaries.

DETAILS TO FOLLOW

(RT.com)