25/03/22

GLOBAL REGULATION: U.S. Rolls Out New Sanctions Against Russia.

As published on finews.com, Friday 25 March, 2022.

The U.S. Treasury Department announced new sanctions against numerous Russian companies and individuals, including the chief executive officer of the country’s largest bank, Sberbank.

U.S. authorities continue to ramp up efforts against Russia with the latest issuance of new sanctions targeting Russian defense companies, parliament members and more, according to an announcement by the Treasury Department.

The list covers more than 40 defense companies, 328 Duma members and various Russian elites.

The announcement includes significant coverage of the financial sector with new sanctions imposed on Sberbank CEO Herman Gref, who the Treasury called a "close [Vladimir] Putin associate", as well as 17 members of Sovcombank, which is already a designated entity.

The Treasury also issued new guidance on precious metal transactions, underlining that any gold-related transactions involving Russia could be sanctionable.

"The United States, with our partners and allies, is striking at the heart of Russia’s ability to finance and carry out its warfare and atrocities against Ukraine," said Secretary of the Treasury Janet Yellen. "The Russian State Duma continues to support Putin’s invasion, stifle the free flow of information, and infringe on the basic rights of the citizens of Russia. We call on those closest to Putin to cease and condemn this cold-blooded war."