Financial Sanctions Regimes in Russian Federation Intensify
The United States has taken bold action by imposing sanctions on key members of the Russian government, including President Vladimir Putin and Minister of Foreign Affairs Sergei Lavrov, in response to Russia’s unprovoked invasion of Ukraine. This move is part of a broader effort to impose unprecedented diplomatic and economic costs on Russia, in coordination with allies and partners.
Targeting Those Responsible for the War
The sanctions aim to disrupt the financial infrastructure of those responsible for orchestrating the war against Ukraine, including senior government officials and members of the ruling elite. These measures build on earlier actions that targeted major financial institutions and cut off access to critical technologies.
United Front Against Russia’s Aggression
“We are united with our international allies and partners to ensure Russia pays a severe economic and diplomatic price for its further invasion of Ukraine,” said Secretary of the Treasury Janet L. Yellen. “If necessary, we are prepared to impose further costs on Russia for its appalling behavior on the world stage.”
Additional Designations
The US Department of State has also designated two additional government officials responsible for the further invasion of Ukraine:
- Minister of Defense Sergei Shoigu
- Chief of the General Staff of the Russian Armed Forces Valery Gerasimov
Sanctions Imposed
The sanctions impose significant restrictions on the individuals and entities targeted, including:
- Blocking all property and interests in property in the United States or in the possession or control of US persons
- Prohibiting all transactions involving designated or blocked persons unless authorized by a general or specific license issued by the Office of Foreign Assets Control (OFAC) or otherwise exempt
Escalation of Financial Sanctions Regimes
The move is seen as a significant escalation of financial sanctions regimes against Russia, aimed at disrupting its ability to finance and sustain its military aggression in Ukraine. The US remains committed to supporting a free and democratic Ukraine and will continue to impose costs on those responsible for Russia’s actions until the conflict ends.
Conclusion
The United States’ decision to intensify its financial sanctions regime against Russia sends a clear message: we will not stand idly by as Russia continues to perpetuate aggression in Ukraine. We will continue to work with our allies and partners to hold Russia accountable for its actions, and we will support the people of Ukraine in their pursuit of freedom and democracy.