Gazprombank executives sanctioned by US over Russian invasion of Ukraine

The United States announced the sanctions on Sunday. against three Russian TV channels, banned Americans from providing accounting and consulting services to Russians, and sanctioned Gazprombank executives to punish Moscow for its invasion of Ukraine.

The new sanctions are the latest US effort to increase pressure on Russian President Vladimir Putin after his country’s assault on Ukraine and came as President Joe Biden has met virtually with G7 leaders and Ukrainian President Volodymyr Zelenskiy to discuss the war.

The action taken against Gazprombank executives was the first involving the Russian gas-exporting giant, as the United States and its allies avoided taking action that could lead to disruptions in the flow of gas to Europemain customer of Russia.

“It’s not a complete block. We are not freezing Gazprombank assets or prohibiting any transactions with Gazprombank,” a senior Biden administration official told reporters. “What we are signaling is that Gazprombank is not a safe haven, and so we are sanctioning some of their key corporate executives…to create a deterrent effect.”

Biden praises unity against Russia

Biden, who hailed the unity of the major economies of the Group of Seven in stand up to Russian President Vladimir Putinmet by videoconference with his fellow leaders from his home in Delaware, where he spends the weekend.

The White House said the leaders would discuss the latest developments in the war, its global impact and support for Ukraine and its future.

He said the entire G7 was committed to “phasing out or banning the import of Russian oil” and would work together “to ensure a stable global energy supply, while accelerating our efforts to reduce dependence on fuels. fossils”.

Russia will celebrate Victory Day on Monday

The meeting comes ahead of Russia’s Victory Day celebrations on Monday. Putin calls the invasion a “special military operation” to disarm Ukraine and rid it of anti-Russian nationalism fomented by the West. Ukraine and its allies say Russia has launched an unprovoked war.

The United States and Europe have imposed crushing sanctions on Russia since its invasion, targeting banks, businesses and individuals in an effort to squeeze the Russian economy and limit the resources used to advance the war.

Eight Sberbank executives, which holds a third of Russia’s banking assets, have been added to the latest US sanctions list. The Moscow Industrial Bank and its 10 subsidiaries were also added.

“Taken together, today’s actions are a continuation of Russia’s systematic and methodical withdrawal from the global financial and economic system. And the message is that there will be no safe haven for the Russian economy if Putin’s invasion continues,” the official said.

The new export control restrictions were aimed at directly undermining Putin’s war effort, including controls on industrial engines, bulldozers, wood products, motors and fans. The European Union goes hand in hand with additional controls on chemicals that directly into the Russian military effort, the official said.

The limited liability company Promtekhnologiya, an arms manufacturer, was sanctioned, along with seven shipping companies and a marine towage company. The White House also said the Nuclear Regulatory Commission suspend special nuclear material export licenses to Russia.

The sanctioned television stations are directly or indirectly controlled by the state, the White House said, and included the joint-stock company Channel One Russia, the television station Russia-1 and the joint-stock company NTV Broadcasting Company.

Americans will be prohibited from providing accounting, trust and business formation and management consulting services to Russians, although the provision of legal services is still permitted.

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