US imposes new anti-Russia sanctions on 14 individuals, 28 entities

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The United States Treasury Department announced on Monday that the US has imposed new anti-Russia sanctions on 14 individuals and 28 entities, including four family members of Russian politician Suleiman Kerimov and companies registered in Switzerland, Malta, and France, among others.

"Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), alongside the US Department of State, sanctioned a transnational network procuring technology that supports the Russian military-industrial complex," the US Treasury said in a press release.

"In total, today’s actions designated 14 individuals and 28 entities, and identified eight aircraft as blocked property," it added.

On her part, Secretary of the Treasury Janet Yellen said the US "will continue to expose and disrupt the Kremlin’s military supply chains and deny Russia the equipment and technology it needs to wage its illegal war against Ukraine."

"Today’s actions demonstrate Treasury’s steadfast commitment to targeting people around the world aiding Putin’s war effort and the crony elites who bankroll his regime. Together with our broad coalition of partners, we will continue to use our sanctions and export controls to weaken Russia’s military on the battlefield and cut into the revenue Putin is using to fund his brutal invasion," she added.

According to the release, the US believes that the newly sanctioned individuals are a part of a global network of financial facilitators, enablers, and others associated with two key Kremlin-linked elites whose fortunes are allegedly intertwined with the West.

In a statement, US Secretary of State Antony Blinken said that "in response to Moscow’s unprovoked war against Ukraine, the United States will continue to disrupt Russia’s military supply chains and impose high costs on President Putin’s enablers, as well as all those who support Russia’s brutality against its neighbor."

"Today, the Departments of State and the Treasury are targeting international facilitators and enablers, including a procurement network in Europe and Asia," he added.

Head of Russian Central Bank: Sanctions reshaping world economy

Last week, the head of the Central Bank of Russia, Elvira Nabiullina, said the effects of sanctions on both the world and Russian economies should not be underestimated.

Nabiullina warned that the repercussions of sanctions will be impossible to disregard.

"Sanctions are very powerful, and their impact on both the Russian and the world economy should not be downplayed; it will be impossible to isolate oneself from their influence," she stated.

During a speech delivered on the status of Russia's 2023-2025 before the committees of the State Duma, Nabiullina stressed that sanctions are causing old economic ties with foreign countries to become outdated as new ties are emerging in a clear state of structural transformation, while Moscow's trade geography and demands on its products are changing.

The head of Russia's Central Bank added that Moscow's trade partners are being impacted by the increasing pressure of sanctions.

Read more: UK froze $21Bln in Russian assets since February – Treasury