US & GLOBAL: On Friday, in response to the apparent efforts by Russian leaders to capitalize on the war events, the European Union has joined forces with the United States to imposed its 14th package of sanctions on Russia. Sanctions brought against Russia are imposed in reaction to Moscow’s plan to raise capital through Russian media sources.
By Anne M Erbynstein
Today, due, in part, to its ongoing illegal war in Ukraine new sanctions imposed on Russia are aim at further efforts at ensuring the reduction of Russia's revenue sources and ability to wage war
Following the decision by US and EU leaders to respond d to Russia’s actions, the sanctions include
1). Prohibiting investments in and exports to Russian liquified natural gas (LNG) projects.
2). Banning vessels supporting Russia's war efforts from EU ports
3). Targeting individuals and entities undermining Ukraine's territorial integrity.
4). Restricting exports of dual-use and advanced technology items
5). Imposing stricter restrictions on Russian diamonds and other goods_
The US has remained committed to imposing sanctions against wrongful actions taken by Russia, such that violate international law. The new sanction demonstrate the US commitment to supporting Ukraine and limiting Russia's ability to fund its military aggression.
In the past 24 months, sanctions imposed by the US Department of Treasury’s OFAC division have been significant. Led by U.S. Treasury Secretary Janet Yellen, the sanction imposed on Russia have included:
•. Sanctions on Major Russian Banks*: The U.S. imposed correspondent and payable-through account sanctions on Sberbank, Russia's largest bank, and full blocking sanctions on banks VTB Bank, Russia's second-largest bank.
•. Targeting Russian Elites*: The U.S. also sanctioned additional Russian elites and their family members, as well as imposed new prohibitions related to new debt and equity of major Russian state-owned enterprises
•. Limiting Access to Global Finance*: These actions aim to limit Russia's access to the global financial system, making it harder for the country to raise capital and fund its activities.
Today, the sanctions imposed on Russian media company, RT; formerly Russia Today, are the most recent measures taken to prohibit the criminal activities committed by Russia during the war brought against Ukraine by Moscow.
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