U.S. Treasury imposes ‘nearly 100 sanctions on Russian elites and Russia’s industrial base, financial institutions, and technology suppliers as the United States continues to leverage sanctions and economic restrictions to undermine Russia’s capacity to wage its war against Ukraine.’
by marketrent
3 comments
Action alongside efforts by Allies and partners aims ‘to limit Russia’s ability to acquire, develop, and maintain technology needed by its war machine’; ‘to target those operating in Russia’s manufacturing and construction sectors’; and ‘cuts into Russia’s revenue streams from extractive industries, including targeting entities that will contribute to Russia’s future energy revenues.’^1
>WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing nearly 100 sanctions on Russian elites and Russia’s industrial base, financial institutions, and technology suppliers as the United States continues to leverage sanctions and economic restrictions to undermine Russia’s capacity to wage its war against Ukraine.
>[…]
>As a result of today’s action, all property and interests in property of the persons above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
>In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.
>All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or blocked persons are prohibited unless authorized by a general or specific license issued by OFAC, or exempt.
>These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
^1 U.S. Department of the Treasury (14 Sep. 2023), “With wide-ranging new sanctions, Treasury targets Russian military-linked elites and industrial base”, https://home.treasury.gov/news/press-releases/jy1731
Now we need all NATO and EU countries to step up.
Why the hell wait this long when Russian elites have all been supporting this war from day one?