US approves new sanctions against Russia | World

The US government on Thursday approved a new package of sanctions on Russia as a way to pressure the country to withdraw its troops from Ukraine. Among the list of punishments is the freezing of assets of dozens of arms and defense equipment manufacturers, 328 Russian parliamentarians and the director of Sberbank, Russia’s largest bank.

The sanctions were announced by the US Treasury Department in response to what it calls an “illegal” war against Ukraine.

Among the companies sanctioned are KTVR, a Russian state-owned company that manufactures the main missiles used in attacks on Ukrainian territory, as well as radar and submarine weapons.

The price of the Russian ruble has plummeted since economic sanctions were imposed on Russia.

Washington has also decided to sanction the 328 members of the Duma, the lower house of the Russian Parliament, who support the war or are “complicit” in the attacks, in the words of the US Treasury Department. The move is a reprisal for a resolution passed by the Duma asking the country’s president, Vladimir Putin, to recognize the breakaway regions of Donetsk and Lugansk as a way of justifying the attacks in the neighboring country.

Due to the unprecedented sanctions on Russia, prices are rising and there are many merchants in shortage in the country — Photo: Getty Images/BBC Brasil

“Putin recognized the regions as an excuse to order his troops to enter Ukraine,” the US Treasury Department said in a statement.

The sanctions also target the CEO of Sberbank, Russia’s main bank, Herman Oskarovich Gref. Gref is still a strong ally of Putin.

The Kremlin has yet to comment on the new sanctions.

NATO is also expected to approve a joint package of sanctions against Russia this week. Leaders of the Western military alliance, including US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron, are meeting on Thursday for an extraordinary summit in Brussels.

Earlier, the UK approved an extension of the country’s sanctions on Russia. In the new package, the British government froze assets from Russian entities such as Gazprobrank, Alfa Bank and state-owned Sovcomflot.

Biden trip to discuss more sanctions against Russia

Biden trip to discuss more sanctions against Russia

About Abhishek Pratap

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