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US Treasury Department announces new sanctions against Russia

July 17, 2014, 2:46 UTC+3 WASHINGTON
The sanctions will apply to individuals and companies both in Russia and Ukraine
1 pages in this article
Russian State Duma Deputy Speaker Sergei Neverov

Russian State Duma Deputy Speaker Sergei Neverov

© ITAR-TASS/Valery Sharifulin

WASHINGTON, July 17. /ITAR-TASS/. The US government has announced new sanctions against Russia over the events in Ukraine. The penalties will apply to individuals and companies both in Russia and Ukraine.

The sanctions apply to Russian State Duma Deputy Speaker Sergei Neverov, Minister for Crimean Affairs Oleg Savelyev, Russian presidential aide Igor Shchegolev, Federal Security Service (FSB) Colonel General Sergei Beseda, and a leader of the self-proclaimed Donetsk People’s Republic (DPR) in eastern Ukraine, Alexander Borodai.

The organizations targeted by the punitive measures include Russian state corporation Vnesheconombank (VEB), Russian state-controlled energy giant Gazprom’s banking arm Gazprombank and state-owned oil company Rosneft.

The organizations list also includes Federal State Unitary Enterprise State Research and Production Enterprise Bazalt, Feodosia Oil Products Supply Company (in Crimea), Radio-Electronic Technologies Concern KRET and Concern Sozvezdie.

Other companies on the list are Military-Industrial Corporation NPO Mashinostroyenia (scientific and production machine-building association), Defense Concern Almaz-Antey, weapons manufacturer Kalashnikov Consortium, KBP Instrument Design Bureau, Research and Production Corporation Uralvagonzavod and Russia’s largest independent gas producer Novatek.

According to the US Treasury Department, the new US sanctions deprive VEB, Gazprombank, Rosneft and Novatek of access to new long-term financing, for over 90 days (an opportunity to obtain relevant banking loans in the United States), but do not ban American partners from maintaining business relations with them and carrying out other financial transactions.

Meanwhile, the sanctions against Russian defense industry enterprises envision that all contacts with them on the part of the United States will be halted and their assets in American banks, if any, will be frozen.

This is the third round of sanctions imposed on Russia by the United States over the situation in Urkaine and Crimea's accession to Russia.

 

First round of sanctions

On March 17, the USA published the list of people subject to sanctions, which includes several Russian and Ukrainian officials.

As the White House reported March 17, the list includes presidential aide Vladislav Surkov, presidential adviser Sergei Glazyev, Head of State Duma Committee for CIS Affairs Leonid Slutsky, Head of Federation Council's Committee for constitutional legislation Andrei Klishas, Federation Council Speaker Valentina Matviyenko, Deputy Prime Minister Dmitry Rogozin, Chair of the Duma committee for family, women and children affairs Yelena Mizulina, Crimean Prime Minister Sergey Aksyonov, Crimean State Council Speaker Vladimir Konstantinov, leader of the Ukrainian Choice public movement Viktor Medvedchuk and Ukrainian president Viktor Yanukovych.

Their assets in the US will be frozen, and Americans will be banned from getting into business contacts with the officials on the list.

Apart from that, a new executive order of the US president has been adopted. This order forms the basis of sanctions against the aforementioned persons. In addition, the document allows introducing punitive measures against persons and organizations serving the interests of Russia’s military industry, as well as providing material support to people included in the black list.

 

Second round of sanctions

On March 20, the US added to the black list another 20 Russian officials.US President Barack Obama specified that the new measures were imposed against Russian high-ranking officials and other people who did not belong to authorities in Moscow, but who, as Washington believes, support actions of the Russian government against Ukraine. Obama added that one Russian bank was also included in the list.

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