President Biden and G7 leaders meet with President Zelensky to continue our efforts to support Ukraine and build on our unprecedented sanctions and export controls
Today, President Biden and G-7 leaders met with President Zelensky of Ukraine to reaffirm our shared commitment to strengthening Ukraine’s position on the battlefield and at the negotiating table.
Our unprecedented sanctions are already hitting the Russian economy hard, and our export controls have stifled Russia’s access to critical technology and the supply chains it needs to sustain its military ambitions. Putin’s war is expected to destroy Russia’s last 15 years of economic gain. As a result of our export controls, Russia is struggling to replenish its military weapons and equipment. Russia’s two major tank factories, the Uralvagonzavod Corporation and the Chelyabinsk Tractor Plant, have shut down due to a lack of foreign components. Nearly 1,000 private sector companies have left Russia, and reports suggest more than 200,000 Russians, many of them highly qualified, have left the country. All these costs will increase and increase over time.
Putin failed in his original military goal of dominating Ukraine – but managed to make Russia a global pariah. Today, the United States, the European Union and the G7 have committed to increase these costs by collectively taking additional action, in line with each partner’s respective laws and processes.
Targeting state-controlled media in Russia that are fueling Putin’s war. The United States will sanction three of Russia’s most directly or indirectly state-controlled television stations: Channel 1 Russia, Russia-1 and NTV Broadcasting Company. All three stations are among the largest recipients of foreign revenue, which affects the revenue of the Russian state.
Prohibition of services that help finance Putin’s war and avoid sanctions for aid. The United States will prohibit individuals from the United States from providing accounting, trust, and corporate services, as well as management consulting services to anyone in the Russian Federation. These services are key to building wealth for Russian companies and elites, thus generating revenue for Putin’s military machine and trying to hide that wealth and avoid sanctions. This action is based on previous bans on restricting the export of goods related to aerospace, marine, electronics, technology, defense and related material sectors of the Russian economy.
Stop importing Russian oil and reduce dependence on Russian energy. The United States has already banned imports of Russian oil, gas and coal. Today, the entire G-7 is committed to phasing out or banning Russian oil imports. This will hit Putin’s main artery of the economy hard and deny him the income he needs to fund his war. The G7 is also committed to working together to ensure a stable global energy supply, while accelerating our efforts to reduce dependence on fossil fuels.
Impose additional export controls and sanctions to degrade Russia’s military efforts. The United States will issue a new rule imposing additional restrictions on Russia’s industrial sector, including a wide range of raw materials and products, including wood products, industrial engines, boilers, engines, fans and ventilation equipment, bulldozers and many other industrial and commercial items. applications. These new controls will further restrict Russia’s access to items and revenues that could support its military capabilities. The United States has also sanctioned Promtechnology Limited Liability Company, which produces rifles and other weapons used in military operations in Ukraine; seven shipping companies that own or operate 69 ships; and one maritime towing company. The Nuclear Regulatory Commission will also suspend general licenses to export raw materials, special nuclear material, by-products and deuterium to Russia.
Impose sanctions on Russian elites and members of their families and visa restrictions on Russian and Belarusian officials undermining Ukraine’s sovereignty, territorial integrity or political independence. The United States has imposed approximately 2,600 visa restrictions on Russian and Belarusian officials in response to their ongoing efforts to undermine Ukraine’s sovereignty, territorial integrity or political independence. In addition, the United States has issued a new visa restriction policy that applies to Russian military personnel and authorities supported or installed by Russia who are believed to be involved in human rights violations, violations of international humanitarian law, or public corruption in Ukraine. The United States has also sanctioned eight executives of Sberbank, Russia’s largest financial institution and crucial to Russia’s economy, which holds about a third of all banking assets in Russia; twenty-seven executives of Gazprombank, a well-known Russian bank that facilitates the business of Russia’s Gazprom, one of the world’s largest exporters of natural gas; and the Moscow Industrial Bank and its ten subsidiaries.
###
Add Comment