New Sanction Package For Russia

The White House said the United States would prohibit Russian corporations and persons from utilizing U.S. accounting, marketing, and management consulting.

This is part of a new bundle of penalties aimed at punishing Moscow further for its involvement in the Ukraine conflict. 

Additional Sanctions

Per a White House fact sheet, the U.S. is also planning to blacklist three key Russian state-controlled TV networks and increase export curbs on Russia’s industrial sector.

In addition, the package contains new travel restrictions for 2,600 Russian and Belarusian officials, along with sanctions against Russian bank executives, including 27 Gazprombank top management. 

In a media interview, a senior Biden administration official stated, “Today’s steps represent a continuation of the gradual and methodical withdrawal of Russia from the global economic and financial system.”

If Russian President Vladimir Putin’s assault continues, there will be no safe refuge for the Russian economy. 

On Sunday, President Biden presumably discussed the new restrictions with other Group of Seven (G-7) presidents and Ukrainian President Volodymyr Zelensky during a conference call. 

According to a White House fact sheet, the G-7 leaders committed on Sunday “to tapering out or prohibiting the import of Russian oil.”

However, no date was provided for this promise. The United States already blocked imports of Russian oil and natural gas, while European nations rely on Russian energy exports significantly more. 

The declaration comes a day before Russia’s Victory Day when some believe Putin may attempt to declare a symbolic victory over Ukraine, despite Russia’s significant losses and problems. 

EU to Follow

The new U.S. restriction on providing accountancy, marketing, and management consulting to Russians parallels a measure taken by the United Kingdom a week ago.

The senior Biden administration official verified the prohibition does not include legal services, but cautioned the administration continually reevaluates its sanctions and may broaden them. 

The U.S. is also punishing Channel One Russia, Russia’s Channel One television, and NTV Broadcasting Company, which, according to the White House, are among the largest foreign-fund receivers. 

The senior official told reporters, “After today, no U.S. corporation will be allowed to pay or support the misinformation machine that hides the facts of Putin’s horrific invasion behind lies and dishonesty.”

Under the new export restrictions, the United States will be unable to export industrial goods, such as motors and bulldozers, to Russia. The official stated these restrictions are scheduled to go into place on Monday. 

The official added that the sanctions on officials at Gazprombank, which services the Russian gas giant Gazprom, constitute the first time the United States sanctioned someone linked with the bank and indicates it is not a “haven” for Russia. 

In reaction to the more than two-month-long Russian invasion of Ukraine, the United States and its allies have consistently slapped sanctions on Moscow.

The European Union is anticipated to take equivalent action in response to the latest U.S. sanctions.