**US Imposes Sanctions on Russian Oil Company**
The US Treasury has announced new sanctions against Russia. This time, the focus is on Moscow‘s oil companies. One of these companies co-owns the Serbian Oil Industry.
The Treasury Department says it is targeting Surgutneftegas and Gazprom Neft, two major oil producers in Russia. These companies are the primary source of revenue for Russia. The US wants to cut off this money flow because Russia is using it to fund its war against Ukraine.
Secretary of the Treasury Janet Yellen said that the US is taking action against Russia’s key source of funding. She added that the sanctions are a response to Russia’s “brutal and illegal” war against Ukraine.
The Treasury Department has listed NIS AD Novi Sad, the Serbian Oil Industry, as a subsidiary of Gazprom Neft. This means that any assets or business dealings with NIS will also be affected by the new sanctions.
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