US to impose new sanctions on Russia, including a vow to phase out imports of Russian oil and further crackdowns on state-controlled media and industrial trade
- The US announced additional sanctions on Russia over its war on Ukraine.
- The sanctions come following a Sunday meeting of the G7, which includes the US, UK, Canada, France, Germany, Italy, and Japan.
The US is slapping even more sanctions on Russia over the war in Ukraine.
The White House announced it will further sanctions imposed on Russia, after President Joe Biden and fellow leaders of the G7 member nations met with Ukrainian President Volodymyr Zelenskyy on Sunday.
The G7 — an intergovernmental political forum that includes the US, UK, Canada, France, Germany, Italy, and Japan — convened to discuss how the nations can "fight for a peaceful, prosperous, and democratic future" for Ukraine, according to a press statement from the White House.
"Today, we, the G7, reassured President Zelenskyy of our continued readiness to undertake further commitments to help Ukraine secure its free and democratic future, such that Ukraine can defend itself now and deter future acts of aggression," the group said in the statement.
Here's a closer look at how the US plans to impose the new sanctions, according to a release from the White House:
Sanctioning Russian state-controlled media
The US will sanction three of Russia's most-watched directly or indirectly state-controlled TV stations, which are Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company. These stations are among the biggest recipients of foreign revenue, which flows right back into the Russian state.
Cracking down on sanctions evasion
The White House is banning Americans from providing services in "accounting, trust, and corporate formation, and management consulting" to anyone in Russia.
"These services are key to Russian companies and elites building wealth, thereby generating revenue for Putin's war machine, and to trying to hide that wealth and evade sanctions," the White House said in its release Sunday.
Reducing dependence on Russian energy
All G7 countries vowed to phase out or ban imports of Russian oil. The US previously banned imports of Russian oil, gas, and coal.
Introducing more export controls
The US will issue a rule that will impose further restrictions on Russia's industrial sector, affecting materials and products with industrial and commercial applications. This includes wood products, industrial engines, boilers, motors, fans, ventilation equipment, and bulldozers.
The White House also sanctioned Limited Liability Company Promtekhnologiya, a firm producing rifles and other weapons that have been used in the war on Ukraine, as well as one marine towing company and seven shipping companies that own or operate a total of 69 vessels. The US Nuclear Regulatory Commission will also suspend licenses for the exports of some nuclear material to Russia.
Sanctioning more Russian elites and officials
The US slapped 2,600 visa restrictions on Russian and Belarusian officials over the war on Ukraine. It sanctioned eight executives from Sberbank, which is Russia's biggest financial institution, as well as 27 executives from Gazprombank, a subsidiary of Russian gas giant Gazprom. The White House also sanctioned Moscow Industrial Bank and its ten subsidiaries.