US to levy 500 fresh sanctions on Russia, its military

U.S. Treasury Department announces 500 new sanctions against Russia, marking the most significant penalties since the invasion of Ukraine

The U.S. Treasury Department’s recent announcement of 500 new sanctions against Russia and its military represents the most substantial set of penalties since the incursion into Ukraine two years ago. This move underscores the ongoing efforts to maintain financial pressure on Moscow following the invasion. 

These sanctions mark the most extensive punitive measures imposed on Russia since Feb. 24, 2022. In addition to the sanctions, the U.S. Justice Department has issued a fresh round of indictments targeting Russian business figures, further intensifying the pressure on Moscow. 

The announcement not only aims to demonstrate steadfast support for Kyiv amidst political tensions but also addresses delays in delivering a $60 billion military aid package to Ukraine, pending final approval through a congressional vote. 

President Joe Biden has pledged to impose sanctions in response to the death of opposition leader Alexei Navalny, attributed by Russian authorities to his passing in custody. Biden specifically mentioned sanctions targeting President Vladimir Putin for his alleged role in Navalny’s demise. 

Furthermore, the Justice Department unveiled charges against Russian banker Andrei Kostin, president of VTB Bank, and two U.S.-based associates, Vadim Wolfson and Gannon Bond. The allegations include accusations of evading sanctions and money laundering to support luxury assets, such as superyachts, as well as concealing property ownership in Aspen, Colorado. 

Attorney General Merrick B. Garland emphasized the Department’s unwavering commitment to disrupting illicit financial flows funding Putin’s military actions and holding accountable those complicit in enabling such activities. 

Source: AP