The aim of the new package is to reach those who have not been affected by the restrictions already announced
The United States published a new package of sanctions against Russia on Wednesday (04/20/2022). Targets include a major commercial bank, individuals and entities linked to a Russian oligarch, virtual currency mining companies, and hundreds of citizens collaborating on the war in Ukraine.
“The Treasury Department has sanctioned Transcapitalbank, a major Russian commercial bank that provides services to banks worldwide, to avoid international sanctions,” White House spokeswoman Jen Psaki told reporters.
To prevent Russia from surviving the restrictions already in place, “more than 40 individuals and organizations who are part of a Russian sanctionscircumvention network led by Russian oligarch Konstantin Malofeev” have been sanctioned, Psaki added.
The US Treasury even imposed sanctions on companies in Russia’s virtual currency mining sector that generate revenue for the Russian government. According to the ministry, Russia’s mining industry is “reportedly the third largest in the world”.
In addition, “in response to human rights abuses by Russia and Belarus, the State Department has imposed visa restrictions on more than 600 people,” the spokeswoman said. According to the US Treasury Department, these Russian citizens are “involved in the suppression of dissent in Russia and abroad, activities that threaten the territorial integrity of Ukraine, and human rights abuses” in the Donbass region.
Three Russian officials also face visa restrictions “for involvement in serious human rights abuses,” along with another 17 people accused of “undermining democracy in Belarus.”
According to Psaki, the new package of restrictions is “part of an increased effort to crack down on those trying to circumvent unprecedented sanctions”.
EUROPEAN UNION
The EU (European Union) is working on its 6th package of sanctions against Russia. EU Commission President Ursula von der Leyen said on Sunday (April 17) that the new round should hit untouched Russian banks and the oil sector. The state bankruptcy of the Russian state is only a “matter of time”, according to the chairman of the commission.
“Exports of goods to Russia fell by 70%. (…) Hundreds of large companies and thousands of skilled workers left the country. According to current forecasts, Russia’s GDP will fall by 11%,” von der Leyen explains.