FACT SHEET: United States and G7 Partners Impose Severe Costs for Putin’s War Against Ukraine & More News Here

President Biden and G7 Leaders Meet with President Zelenskyy to Continue our Efforts to Support Ukraine and Build on our Unprecedented Sanctions and Export Controls

Today, President Biden and G7 Leaders met with President Zelenskyy of Ukraine to bolster our shared dedication to strengthen Ukraine’s place on the battlefield and on the negotiating desk.

Our unprecedented sanctions are already exacting an immense toll on Russia’s financial system and our export controls have strangled Russia’s entry to vital expertise and the availability chains it must maintain its army ambitions. Putin’s conflict is projected to wipe out the final 15 years of financial positive factors in Russia. As a results of our export controls, Russia is struggling to replenish its army weapons and tools. Russia’s two main tank vegetation – Uralvagonzavod Corporation and Chelyabinsk Tractor Plant – have halted work on account of lack of international parts. Almost 1,000 non-public sector corporations have left Russia, and studies point out that greater than 200,000 Russians, lots of whom are extremely expert, have fled the nation. All of those prices will compound and intensify over time.

Putin has failed in his preliminary army goal to dominate Ukraine – however he has succeeded in making Russia a world pariah. Today, the United States, the European Union and G7 dedicated to ratchet up these prices by collectively taking additional measures, according to every accomplice’s respective authorized authorities and processes.

Targeting State-Controlled Media Within Russia That Bolster Putin’s War. The United States will sanction three of Russia’s most highly-viewed straight or not directly state-controlled tv stations in Russia – Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company. All three stations have been among the many largest recipients of international income, which feeds again to the Russian State’s income.

Banning Services that Help Finance Putin’s War and Aid Sanctions Evasion. The United States will prohibit U.S. individuals from offering accounting, belief and company formation, and administration consulting providers to any individual within the Russian Federation. These providers are key to Russian corporations and elites constructing wealth, thereby producing income for Putin’s conflict machine, and to attempting to cover that wealth and evade sanctions. This motion builds on earlier prohibitions to limit the export of products associated to aerospace, marine, electronics, expertise, and protection and associated materiel sectors of the Russian financial system.

Cutting off Imports of Russian Oil and Reducing Dependence on Russian Energy. The United States has already banned the import of Russian oil, gasoline, and coal. Today, the complete G7 dedicated to phasing out or banning the import of Russian oil. This will hit laborious on the principal artery of Putin’s financial system and deny him the income he must fund his conflict. The G7 additionally dedicated to work collectively to make sure secure international vitality provides, whereas accelerating our efforts to scale back dependence on fossil fuels.

Impose additional export controls and sanctions to degrade Russia’s conflict efforts.  The United States will problem a brand new rule that imposes extra restrictions on Russia’s industrial sector, together with a broad vary of inputs and merchandise together with wooden merchandise, industrial engines, boilers, motors, followers, and air flow tools, bulldozers, and many different gadgets with industrial and business purposes. These new controls will additional restrict Russia’s entry to gadgets and income that might assist its army capabilities. The United States additionally sanctioned Limited Liability Company Promtekhnologiya, which produces rifles and different weapons which were utilized in army operations in Ukraine; seven delivery corporations, which personal or function 69 vessels; and one marine towing firm. The Nuclear Regulatory Commission may also droop common licenses for exports of supply materials, particular nuclear materials, byproduct materials, and deuterium to Russia.

Impose Sanctions on Russian Elites and their Family Members and Visa Restrictions on Russian and Belarusian Officials Undermining the Sovereignty, Territorial Integrity, or Political Independence of Ukraine. The United States imposed roughly 2,600 visa restrictions on Russian and Belarusian officers in response to their ongoing efforts to undermine the sovereignty, territorial integrity, or political independence of Ukraine. Additionally, the United States issued a brand new visa restriction coverage that applies to Russian Federation army officers and Russia-backed or Russia-installed purported authorities who’re believed to have been concerned in human rights abuses, violations of worldwide humanitarian legislation, or public corruption in Ukraine. The United States additionally sanctioned eight executives from Sberbank– the biggest monetary establishment in Russia and uniquely essential to the Russian financial system, holding a few third of all financial institution property in Russia; twenty-seven executives from Gazprombank – a outstanding Russian financial institution facilitating enterprise by Russia’s Gazprom, one of many largest pure gasoline exporters on the planet; and Moscow Industrial Bank and its ten subsidiaries.

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