‘There will be costs’: US sanctions Russian central bank chief and military suppliers

The Biden administration unleashed a new wave of sanctions against top Russian officials Friday and warned that it would target international suppliers that aid Moscow’s war effort.

“There will be costs for any individual, entity, or country that provides political or economic support to Russia as a result of its illegal attempts to change the status of Ukrainian territory,” a senior administration official said.

The crackdown comes as President Vladimir Putin of Russia signed accession agreements to annex occupied regions of Ukraine. These areas include Kherson, Zaporizhzhia, and the self-declared Donetsk People’s Republic and Luhansk People’s Republic.

The sweeping measures from the departments of Treasury, Commerce, and State target Russian government leaders, military officials, and their family members and warn that U.S. export controls can be applied to international suppliers aiding Moscow’s military and industrial sectors.

The Department of Treasury sanctioned 14 international suppliers for supporting Russia’s military supply chains on Friday and also designated Russian Central Bank Governor Elvira Nabiullina, Deputy Prime Minister Alexander Novak, and others. Nabiullina is credited with keeping Russia’s economy afloat despite months of U.S. economic pressure.

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The United States is also sanctioning relatives of members of Russia’s National Security Council, such as Russian Prime Minister Mikhail Mishustin’s wife and adult children and Minister of Defense Sergei Shoigu’s wife and adult children, the Biden administration said.

An additional 109 State Duma members and 169 members of the Federation Council of the Federal Assembly of the Russian Federation are also newly designated.

The State Department is imposing visa restrictions on Ochur-Suge Mongush (a Russian soldier accused of torturing a Ukrainian prisoner of war), members of Russia’s military and its proxies, and Belarusian military officials.

The costs are “a clear warning” from the U.S. government and supported by the Group of Seven, top officials said.

“Russia’s attempts to illegally annex Ukrainian territory are a grotesque violation of Ukraine’s sovereignty and a blatant effort to manufacture a false reality. This phony act to legitimize the invasion cannot stand,” Undersecretary of Commerce for Industry and Security Alan Estevez said in a statement. “We are also further clamping down on entities that are seeking to support Russia’s military effort, inside and outside of Russia, and will continue to coordinate with our allies and partners to continue to cut Russia off further from the technologies and other items it needs to sustain its war effort.”

“We will not stand by as Putin fraudulently attempts to annex parts of Ukraine,” Treasury Secretary Janet Yellen said in a statement. She also noted the U.S. is prepared to target individual participants and companies as it looks to degrade Moscow’s military-industrial sector and undermine its abilities in the war.

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“We will hold to account any individual, entity, or country that provides political or economic support for Russia’s illegal attempts to change the status of Ukrainian territory,” Secretary of State Antony Blinken said in a statement.

Biden has condemned Russia’s annexation claims over Ukrainian territory, rebuking the “so-called” referendums as “a sham, an absolute sham.”

“The results were manufactured in Moscow,” Biden said this week.

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