U.S. Imposes New Sanctions on Gazprombank Amid Ongoing Russia-Ukraine Conflict
The U.S. Treasury sanctions Gazprombank and its subsidiaries as part of efforts to limit Russia's military funding and operational capabilities.
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Summary
In a strategic move against Russia, the U.S. Treasury has sanctioned Gazprombank, marking it as the largest non-targeted bank amidst the ongoing conflict in Ukraine. Treasury Secretary Janet Yellen emphasized that these sanctions are aimed at degrading Russia's military efforts and preventing the Kremlin from evading existing sanctions. The action follows President Biden's authorization for Ukraine to utilize U.S.-supplied missiles deeper inside Russia and includes sanctions on 50 Russian banks, securities registrars, and finance officials. This demonstrates the U.S.'s ongoing commitment to support Ukraine and limit Russia's financial resources for the war.
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