US unveils additional sanctions against Russian media, funding and elites

The US, the European Union and the Group of Seven countries will provide additional sanctions on Russia targeting the state-controlled media, elites and services that help fund the country the war in Ukrainea senior Biden government official said Sunday.

The announcement came as Biden virtually met with leaders of the G7 and Ukrainian President Volodymyr Zelenskyy to strengthen their shared commitment to strengthening the war-torn country’s position on the battlefield and at the negotiating table.

The US will impose sanctions on three of Russia’s most-watched, directly or indirectly, state-controlled television stations: Joint Stock Company Channel One Russia, Television Station Russia-1 and Joint Stock Company NTV Broadcasting Company, the official said, adding that the stations are one of the largest recipients of foreign revenue flowing back to the Russian state.

The government will also prohibit U.S. individuals from providing accounting, trust, and company formation or management consultancy services to anyone in the Russian Federation in an effort to limit key services to Moscow corporations and elites whose wealth generates revenue for Russia and who seek to hide that money and avoid sanctionssaid the official.

The action builds on previous restrictions on the export of goods in the aerospace, shipping, electronics, technology and defense sectors.

In addition, the US will further restrict Russian exports by imposing sanctions on Promtekhnologiya, a company that produces rifles and other weapons used in military operations in Ukraine, as well as seven shipping lines and a sea towage company, the official said. The Nuclear Regulatory Commission will also suspend licenses for the export of certain nuclear materials to Russia.

The US will issue a new rule to impose additional sanctions on Russia’s industrial sector, including a wide range of input materials and equipment, such as wood products, industrial engines and engines, to limit the country’s access to such items, as well as revenues. that support his military capabilities, the official continued.

The G7, made up of the US, Britain, France, Germany, Italy, Japan and Canada, has also pledged to phase out or ban Russian oil imports and vowed to work with the US to establish a stable global energy supply, the official said. The Biden Administration forbidden russian energy entry in early March.

Finally, the US has issued new visa restrictions on Russian military officials and Moscow-backed authorities allegedly involved in human rights violations, violations of international humanitarian law or public corruption in Ukraine, the official said.

The government also endorsed executives at Sberbank, the largest financial institution in Russia, as well as Gazprombank, which facilitates business through Russia’s Gazprom, one of the world’s largest natural gas exporters, and the Moscow Industrial Bank and its subsidiaries.

Other G7 leaders have also pledged to take further action against Russian state media, banks and elites, and will take measures to prevent the delivery of key services to Moscow, according to a joint White House statement.

Previous sanctions imposed on Russia by the US and its allies and partners have already taken a major toll on the country’s economy, access to technology and supply chains, the official said, adding that these new steps “will drive up these costs.” .

The virtual gathering of the world’s leading economies took place as Biden pressed Congress for an additional $33 billion in military and humanitarian aid for Ukraine in anticipation that the fighting, which started on February 24 when Russia launched an invasion, will continue for months.

During their call, which lasted about 70 minutes, G7 leaders assured Zelensky of their willingness to take additional measures to help Ukraine “secure its free and democratic future,” the statement said.

Zelenskyy reiterated his commitment to ensure a full withdrawal of Russian troops and equipment from Ukraine, as well as security guarantees to prevent future attacks, G7 leaders said, adding that Kiev and international partners have entered into talks on ways to build a post-war peace guarantee settlement.

“In the coming weeks, we will step up our collective short-term financial support to help Ukraine close financing gaps and provide basic services to its people, while also developing options – in collaboration with the Ukrainian authorities and international financial institutions – to provide long-term term recovery and reconstruction,” she added.

White House Press Secretary Jen Psaki noted on Friday the importance of the timing of the G7 meeting and said Russian President Vladimir Putin “projected his desire” to celebrate his country’s Victory Day on Monday. to announce the defeat of Ukraine. The leaders of the G7, in turn, said: in their statement that they held the meeting on Victory Day in Europe, the anniversary of Germany’s surrender in World War II, as a sign of unity in support of Ukraine.

In a late night video saturdayZelenskyy warned that Russia is likely to ramp up its attacks over the weekend, leading to Monday.

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