US sets new sanctions against Russia

June 29, 2022 5:20 am

[Source: BBC News]

Meanwhile, for its part, the United States has imposed sanctions on over 100 targets and banned the import of new Russian gold, the US Treasury Department says.

The moves blacklist 70 entities and 29 individuals, which freezes any US-held assets and prohibits them from doing business with or conducting financial transactions with US institutions.

The US will target Russia’s state-owned defence conglomerate Rostec and multiple banks, including the Bank of Moscow, the Treasury Department says on its website.

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The Treasury says Rostec’s “management umbrella includes more than 800 entities across a wide range of sectors” and that all entities owned 50% or more, directly or indirectly, by Rostec are blocked.

Also sanctioned was United Aircraft Corporation, the maker of Russia’s MiG and Sukhoi fighter jets – planes that are also flown by US allies including some Nato members – and which is majority owned by Rostec.

The US Treasury says this aims to “weaken Russia’s ability to continue its aerial assault on Ukraine.”