US President Joe Biden announced today that Washington will impose more than 500 new sanctions targeting Russia in an effort to increase pressure on Moscow on the second anniversary of the war in Ukraine, Reuters reported.
590 citizens and companies are included in the sanctions lists, which involve the blocking of all assets, a ban on all transactions and visa restrictions. This makes the package of sanctions the largest since the beginning of the war exactly 2 years ago, notes Bloomberg.
Washington will also impose new export restrictions on nearly 100 organizations that provide support to Russia and will take action to further reduce Russian revenue from energy sales, Biden said in a statement.
The measures are aimed at holding Russia accountable for the war and the death of opposition leader Alexei Navalny, Biden said, as Kiev faces acute ammunition shortages and US military aid has been delayed for months in Congress.
“They will ensure that Putin pays an even higher price for his aggression abroad and repression at home,” Biden said of the sanctions.
The measures will target individuals associated with sending Navalny to prison, as well as Russia’s financial sector, defense industrial base, supply networks and individuals who circumvent sanctions on various continents, the US president also said.
“Two years after the start of this war, the people of Ukraine continue to fight with tremendous courage. But (Ukrainians) are short on ammunition. Ukraine needs more supplies from the United States to hold off against the incessant attacks of Russia, which are being supported of weapons and ammunition from Iran and North Korea,” Biden pointed out. “That’s why the House must pass the bipartisan National Security Supplement bill before it’s too late.”
“The American people and the people of the world understand that the stakes of this struggle go far beyond Ukraine,” Biden said. “If Putin does not pay the price for the death and destruction he has caused, he will continue to operate. And the costs to the United States — along with our NATO allies and partners in Europe and around the world — will rise.”
“The Justice Department is more committed than ever to cutting off the illicit flows that fuel Putin’s war and holding accountable those who continue to enable it” said US Attorney General Merrick Garland yesterday. He announced that several steps had been taken by his department to prosecute and seize assets of oligarchs perceived to be key to the Kremlin and the Russian military.
From New York to Florida, passing through Georgia and Washington, prosecutions have begun against several oligarchs, including Andrei Kostin. The head of Russia’s VTB bank, Russia’s second largest, is accused of money laundering and sanctions evasion to maintain two superyachts valued at a total of $135 million, among other charges.
Another case is Ukrainian oligarch Serhii Kurchenko, accused of allegedly using shell companies to sell metals to the US. Kurchenko is an associate of former Ukrainian President Viktor Yanukovych, who has been subject to US sanctions since 2015. Kurchenko is believed to be living in Moscow.
Action was also taken to seize two properties in Florida believed to be linked to founders of a sanctioned Russian construction company. A Swiss citizen is also accused of servicing the superyacht of Russian oligarch Viktor Vekselberg.
Britain is also introducing a new package of sanctions against Russia.
The purpose of the new sanctions is to “limit the military capabilities” of the Russian president. The measures affect more than 50 people and organizations. They are against companies in the Russian military industry, as well as sources of income from metals, diamonds and the energy industry. Also sanctioned are key Russian importers and manufacturers of machine parts used in the production of defense systems, components for missiles and engines for tanks and fighters.
“Our international economic pressure means that Russia cannot afford this illegal invasion. Our sanctions are depriving Putin of much-needed resources“, British Foreign Secretary David Cameron said in a statement.
A few days ago, a new package of sanctions was introduced by the European Union.
#Biden #announced #largest #package #sanctions #Russia