WASHINGTON (ChatnewsTV) — The United States is imposing sanctions on 118 individuals and entities connected to Russia’s financial services sector, targeting key figures and institutions that support the Kremlin’s ongoing war effort. These measures, announced today, extend to Russia’s banking infrastructure, including Gazprombank, Russia’s largest remaining bank not previously sanctioned by the U.S., as well as dozens of other Russian banks that continue to engage with the international financial system.
“We are committed to disrupting Russia’s ability to finance its illegal war against Ukraine,” said a senior U.S. Treasury official in a statement.
“Today’s actions are designed to cut off critical pathways that Russia uses to fund its military aggression.”
The Department of the Treasury also released an alert highlighting the sanctions risks for entities considering participation in Russia’s System for Transfer of Financial Messages (SPFS). This system, developed by the Kremlin, aims to circumvent international sanctions by providing an alternative to the global financial messaging service, SWIFT.
Today’s announcement underscores the U.S. effort to prevent Russia from accessing financial resources that could bolster its military. The sanctions seek to hinder Russia’s capability to conduct international transactions, particularly those related to dual-use goods—items that have both civilian and military applications—and military equipment.
“These sanctions send a clear message: we will continue to take all necessary actions to hold accountable those who enable or profit from Russia’s unlawful war,” said the U.S. official, emphasizing that more measures could follow if Russia persists with its current course.
The sanctions are enacted under Executive Order 14024, which grants the U.S. authority to block or impose restrictions on individuals and entities involved in activities undermining democratic processes, threatening peace, or destabilizing territories.
