May 26, 2022

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US imposes sanctions on more Russian politicians and oligarchs

US imposes sanctions on more Russian politicians and oligarchs

US Treasury announced Friday Sanctions were imposed on additional Russians, including Kremlin elites and political leaders who support Russian President Vladimir Putin. Unprovoked invasion of Ukraine.

why does it matter: The new wave of sanctions Part of a larger strategy It aims to cripple the Russian economy and the leaders who enabled Russia to launch unprovoked attacks.

details: Among the targets are Russian parliamentarians who lobbied for Putin Recognition of two separatist republicsand an official in the Russian Security Council, family members of Putin’s spokesman, billionaire Viktor Vekselberg, and the board of directors of the sanctioned VTB Bank.

  • The sanctions mean that their property and interests in the United States are now blocked and must be reported to the US Treasury’s Office of Foreign Assets Control (OFAC).
  • US transactions involving individuals are also prohibited unless authorized by OFAC.

what are they saying: “Treasury continues to hold Russian officials accountable for enabling Putin to wage an unjustified and unjustified war,” Treasury Secretary Janet Yellen said in a statement.

  • “Today’s actions also further isolate the hard-hit Russian economy by banning trade in products that are essential to the economic and financial interests of all Russian elites.”
  • “We welcome the strong partnership and unity we have built with our allies and partners around the world in the face of Russian aggression against Ukraine,” Secretary of State Anthony Blinken said in a statement on Friday summarizing recent actions against Russia.
  • “Together, we support the people of Ukraine and impose heavy costs and consequences on the Kremlin’s chosen war.”
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The Big Picture: President Joe Biden has also taken measures to cut off Russia’s access to Swift The international banking system, ban imports Russian oilre-imposition of sanctions on Nord Stream 2 And cancel the Russia file ‘most favored country’ Trade status with the United States