The US and its allies increased pressure on Russia for its invasion of Ukraine on Thursday, imposing new sanctions on dozens of Russian defence businesses, hundreds of members of its parliament, and the CEO of the country’s largest bank.
The US Treasury Department recently released instructions on its website stating that gold-related transactions involving Russia may be sanctionable by US authorities, an effort to prevent Russia from circumventing existing sanctions.
“Our goal here is to methodically reduce the perks and privileges that Russia once had as a participant in the international economic order,” a senior administration official said on condition of anonymity.
Since Russian forces invaded Ukraine a month ago in the worst assault on a European state since World War II, the US and its allies have slapped numerous rounds of penalties, including targeting the country’s main lenders and President Vladimir Putin.
Moscow describes the assault as a “special operation” aimed at disarming and “denazifying” its neighbour.
The Treasury stated in a statement that the new sanctions target more than 40 defence enterprises, including state-owned Tactical Missiles Corp and 28 firms to which it is affiliated, as well as its general director.
According to the Treasury, Washington’s action is consistent with comparable steps adopted by the EU, the United Kingdom, and Canada.
The Treasury claimed the company, which Britain has already sanctioned, manufactures naval equipment and weaponry used by Russia against Ukraine, such as the Kh-31, a high-speed airborne guided missile used extensively in Moscow’s onslaught.
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