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Biden Imposes More Sanctions on Russian Oligarchs

Biden Imposes More Sanctions on Russian Oligarchs
Source: CNBC

As President Vladimir Putin’s invasion of Ukraine proceeds, the US has imposed new penalties against Russian oligarchs, the latest attempt to pressure him.

Members of the Russian elite, their families, and close connections will be targeted by the new sanctions, which would cut them off from the US financial system.

“The aim is to have the greatest possible influence on Putin,” stated US Vice President Joe Biden.

The newest embargo includes Dmitry Peskov, President Vladimir Putin’s press secretary.

Mr. Peskov, 54, has already been sanctioned by the European Union, and he now joins a list of eight oligarchs and almost two dozen family members and allies whose assets in the United States will be frozen, and their American homes will be prohibited from usage.

Another 19 billionaires and 47 of their family members will face visa restrictions in the United States, including Putin supporter Alisher Burhanovich.

The White House claimed on Thursday that “these individuals have benefited themselves at the cost of the Russian people.” “We will continue to work with our friends and partners to hold the Russian billionaires and corrupt officials responsible for the regime’s violence.”

When speaking about the Ukraine issue during his State of the Union speech earlier this week, Mr Biden threatened to go after Russian billionaires who had “bilked [stolen] billions of dollars from this brutal dictatorship.”

Mr. Biden said on Thursday that current measures imposed with Western partners, such as barring Moscow’s access to the Swift international payments system and imposing limits on the Russian central bank, are already having a “profound” impact.

“Our goal is to sustain the most powerful coordinated economic impact campaign against Putin in history, and I believe we’re well on our way to accomplishing that,” he added.

On Thursday, the UK imposed further penalties on two Russian oligarchs.