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U.S. imposes sanctions on 27 Gazprombank executives, Russian TV stations

Stock Markets May 08, 2022 12:05PM ET
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© Reuters. FILE PHOTO: The logo of Gazprombank is seen at a branch office in Moscow, Russia March 31, 2022. REUTERS/Maxim Shemetov/File Photo

By Jeff Mason and Steve Holland

WILMINGTON, Del. (Reuters) - The United States on Sunday unveiled sanctions against three Russian television stations, banned Americans from providing accounting and consulting services to Russians, and sanctioned executives from Gazprombank to punish Moscow for its invasion of Ukraine.

The new sanctions are the latest effort by the United States to increase pressure on Russian President Vladimir Putin after his country's assault on Ukraine and came as President Joe Biden met virtually with G7 leaders and Ukrainian President Volodymyr Zelenskiy to discuss the war.

The measures leveled against Gazprombank executives were the first involving the giant Russian gas exporter as the United States and its allies have avoided taking steps that might lead to disruptions of gas to Europe, Russia's main customer.

"This is not a full block. We're not freezing the assets of Gazprombank or prohibiting any transactions with Gazprombank," a senior Biden administration official told reporters. "What we're signaling is that Gazprombank is not a safe haven, and so we're sanctioning some of their top business executives ... to create a chilling effect."

Eight executives from Sberbank, which holds one-third of Russia's banking assets, were added to the sanctions list. Moscow Industrial Bank and its 10 subsidiaries were also added.

The new export control restrictions were aimed at directly degrading Putin's war effort, including controls on industrial engines, bulldozers, wood products, motors, and fans. The European Union is moving in tandem with additional controls on chemicals that feed directly into the Russian military effort, the official said.

Russia calls its actions in Ukraine a “special operation” that it says is not designed to occupy territory but to destroy its southern neighbor's military capabilities and capture what it regards as dangerous nationalists. Ukraine and its allies say Russia launched an unprovoked war.

Limited Liability Company Promtekhnologiya, a weapons maker, was sanctioned, along with seven shipping companies and a marine towing company. The White House also said the Nuclear Regulatory Commission would suspend licenses for exports of special nuclear material to Russia.

The sanctioned television stations are directly or indirectly state-controlled, the White House said, and included Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company.

Americans will be prohibited from providing accounting, trust and corporate formation, and management consulting services to Russians, though providing legal services is still permissible.

U.S. imposes sanctions on 27 Gazprombank executives, Russian TV stations
 

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Comments (6)
Brad Albright
Brad Albright May 08, 2022 5:07PM ET
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Russia bombs Ukrainian school serving as shelter; 60 feared dead. https://www.foxnews.com/world/russia-bombs-ukrainian-school-serving-as-shelter-60-feared-dead
Millennial Stacker
Millennial Stacker May 08, 2022 5:05PM ET
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Nobody cares about the fiat dollar
Mohammad RIZWAN
Mohammad RIZWAN May 08, 2022 2:45PM ET
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Funny
William James
William James May 08, 2022 2:45PM ET
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hello 👋
Jam Tha
Jam Tha May 08, 2022 2:38PM ET
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US act of sanction is laughable.. seriously
Empire Destroyer
Empire Destroyer May 08, 2022 1:35PM ET
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Lol markets going to drop some more and speculators push NG back to $9
Tyler Munro
Tyler Munro May 08, 2022 1:08PM ET
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that's pretty suspect..
 
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