US sanctions Russian oligarchs as Putin shows no signs of de-escalating
The White House imposed new sanctions on Russian oligarchs and their families on Thursday, as Vladimir Putin showed no sign of de-escalating Russia’s devastating military attacks on Ukraine.
Joe Biden said the sanctions will target those who “line their pockets with the Russian people’s money” as the Ukrainian people seek shelter from air strikes.
“Our interest is in maintaining the strongest unified economic impact campaign on Putin in all of history, and I think we’re well on the way to doing that,” Biden said in a cabinet meeting.
“Today I’m announcing that we’re adding dozens of names to the [sanctions] list, including one of Russia’s wealthiest billionaires, and I’m banning travel to America by more than 50 Russian oligarchs, their families and their closest associates.”
The financial sanctions target at least eight Russian elites and their family members, in an attempt to prevent the oligarchs from transferring assets to spouses or children to circumvent the restrictions. Those sanctioned include billionaire Alisher Usmanov, a Putin ally whose super-yacht was just seized by German authorities, and Dmitry Peskov, the spokesperson for the Kremlin.
The sanctions terminate the oligarchs’ access to the American financial system, while their US-based assets will be frozen and their property will be blocked from use. The State Department has also imposed US visa restrictions on 19 oligarchs and 47 of their family members and close associates.
The White House has said the new sanctions are designed to put more pressure on Putin by targeting his inner circle of allies.
“We want him to feel the squeeze. We want the people around him to feel the squeeze,” said the White House press secretary, Jen Psaki.
The announcement marks an
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