U.S. Treasury posts detailed list of new Russia sanctions
That’s according to an official statement by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury, Ukrinform reports.
“OFAC designated two financial institutions that are crucial to financing the Russian defense industry, as well as 42 of their subsidiaries,” the statement said.
In particular, these include Vnesheconombank (VEB) with a $53 billion asset portfolio and Promsvyazbank (PSB), as well as their branches. They are considered the largest financial institutions providing services to the Russian armed forces.
The U.S. Treasury has also tightened restrictions on transactions with Russia's sovereign debt by extending them to secondary bond trading.
“These restrictions significantly cut off a core way for Russia to raise money. This kind of measure creates a strain on resources for the Russian state and greater risk for its ability to manage its finances,” U.S. officials explain.
The United States has also imposed sanctions on five Russian-flagged vessels. These include the Baltic Leader cargo vessel (IMO: 9220639), the Linda (IMO: 9256858) and Pegas (IMO: 9256860 crude oil tankers), as well as the Fesco Magadan (IMO: 9287699) and Fesco Moneron (IMO: 9277412) container ships.
On Tuesday, the United States also targeted with personal sanctions members of Russia's elite close to Putin and members of their families. The first on the list were FSB Director Denis Bortnikov and his son Alexander; Chairman of PSB Bank Petro Fradkov; First Deputy Head of the Office of the President of the Russian Federation Vladimir Kirilenko and his son Sergei.
It should be recalled that the U.S. Department of Treasury imposed sanctions against Russian legal entities and individuals based on a decree issued by President Joe Biden in response to Russia's aggression against Ukraine.
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