Understanding the conflict three years on.

More on this topic

The U.S. Treasury Department on Wednesday levied sanctions against Russia’s two largest oil companies in what the agency framed as a response to Russia’s failure to commit to a peace process in Ukraine.

“Given President [Vladimir] Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine,” Treasury Secretary Scott Bessent said in a statement. “Now is the time to stop the killing and for an immediate ceasefire.”

The U.S. Treasury Department on Wednesday

© Foreign Policy