U.S. imposes new sanctions on Russian banks and officials

The United States has announced sanctions targeting 118 individuals and entities linked to Russia's financial services sector. These measures are part of efforts to hinder the Kremlin's war activities. Among those affected is Gazprombank, identified as Russia’s largest bank not previously blocked by the U.S., along with several other Russian banks that still have connections to the international financial system.

In addition to these sanctions, the Department of the Treasury issued an alert regarding potential risks associated with joining Russia’s System for Transfer of Financial Messages. This system was developed by the Kremlin as a means to circumvent existing sanctions.

The U.S. government emphasizes its ongoing commitment to restricting Russia's access to the international financial network in order to limit its capacity to continue its military actions against Ukraine. The intention is also to disrupt Russia's ability to conduct cross-border transactions involving dual-use goods and military supplies.

The Department of the Treasury's actions are in accordance with Executive Order 14024. Further details can be found in the Treasury’s official press release.