The US government announced today a series of sanctions against about 50 Russian banking institutions, with the aim of limiting "access to the international financial system" and reducing financing for the Russian war effort in Ukraine.
The sanctions, which target in particular the financial arm of gas giant Gazprom, Gazprombank, also affect about 40 financial registrars and 15 directors of Russian financial institutions.
"This decision will make it more difficult for the Kremlin [Russian presidency] to be able to circumvent US sanctions to finance and equip its military," Treasury Secretary Janet Yellen said in a statement.
"We will continue to take action against any financing channel that Russia may use to support its illegal and unprovoked war in Ukraine," she added.
In another statement, White House National Security Advisor Jake Sullivan recalled that "in September, President [Joe] Biden announced increased aid and other actions to support Ukraine in its resistance to Russian aggression."
"Today, the United States is imposing significant sanctions on more than 50 financial institutions to reduce their ability to pursue their violent war against the Ukrainian people," Sullivan stressed.
The sanctions affect Gazprombank, but also all of its foreign subsidiaries, based in Luxembourg, Hong Kong, Switzerland, Cyprus and South Africa.
They also target more than 50 small and medium-sized banking institutions that Moscow is suspected of using to channel payments for equipment and technology that Russia is acquiring.
Ukraine has been relying on financial and weapons aid from Western allies since Russia invaded the country on February 24, 2022. Kyiv's allies have also imposed sanctions on key sectors of the Russian economy in an attempt to reduce Moscow's ability to finance the war effort in Ukraine.
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