The sanctions are aimed at weakening Russia’s ability to continue its brutal war and extract the resources used to support the war.

Today, February 24, the United States of America expanded sanctions against Russia. 22 individuals and 83 legal entities of the Russian Federation were included in the list of sanctions.

As reported on the website of the US Treasury Department, the sanctions are aimed at reducing the opportunities for the Russian Federation to continue the war against Ukraine and to obtain the resources it needs for this. Among other things, the metallurgical and mining sectors of the Russian economy came under restrictions.

“As Russia looks for ways to evade sanctions and export controls, the U.S. government is stepping up efforts to counter such evasion around the world. Today’s sanctions include more than 30 individuals and companies from third countries linked to Russian sanctions evasion efforts, including illegal trafficking of “weapons and illegal financing,” the US Treasury Department said.

It is noted that the Office of Foreign Assets Control of the US Treasury Department (OFAC) added more than 10 financial institutions of the Russian Federation to the list of sanctions, including one of the ten largest banks by asset value.

“Sanctioned entities are known to turn to smaller banks and asset management companies in an attempt to avoid sanctions as Russia seeks new ways to access the international financial system,” the US Treasury said.

Today’s expanded sanctions list includes companies that manufacture or import specialized high-tech equipment used by Russian defense enterprises and companies that produce advanced materials used in Russian weapons systems.

The following Russian banks have come under new US sanctions:

• “Moscow Credit Bank”, one of the ten largest banks in Russia.
• “Lanta Bank”;
• “Commercial Bank” Metallurgical Investment Bank (Metalinvestbank);
• “MTS Bank” – a bank located in Moscow and Abu Dhabi (United Arab Emirates);
• Novosibirsk Social Commercial Bank “Livoberezhny”;
• “Bank Saint Petersburg”;
• Primorye Bank;
• “SDM-Bank”;
• “Ural Bank for Reconstruction and Development” (UBRR);
• “Bank Uralsib”;
• “Bank Zenit” and related financial institutions.

Investment companies, organizations that produce or import high-tech equipment, hydrocarbon fiber, as well as companies operating in the aerospace, defense, technology and mining sectors are also included in the sanctions list.

Among them – investment company “Veles Capital”; which is part of Rosatom JSC “Yumatex”; Alabuga-Volokno LLC, NDIgrafit JSC, ITERANET Company, OKB Spektr LLC, medical equipment supplier Tamimed, Elara JSC, Burevisnyk Research Institute and others.

Citizens of Switzerland (Walter Moretti, Ronald Eric Cosman, Bruno Koller, Frederic Pierre Villa, Hans-Peter Bomatter, Lütwin Schommer), Germany (Marcus Gerhard Müller), Italy, companies from Bulgaria (Taerio International), Malta helped Russia circumvent sanctions (Strat Investment Group), Switzerland (Swisstec, Tamyna AG).

The USA also imposed sanctions against the “Redut” PEC, an armed formation of the “DNR” under the name “Sparta”.

Sanctions against Russia – what is known

As reported, earlier today Great Britain announced a new package of sanctions against Russia. The new restrictions include, in particular, a ban on the export of all items that Russia has used on the battlefield up to our time. Among the hundreds of goods are aviation parts, radio equipment and electronic components that can be used by the Russian military-industrial complex, including during the production of UAVs.

Earlier, on February 15, 2023, the European Commission officially presented the 10th package of sanctions against the Russian Federation. It proposes to introduce new bans on the export to Russia from the EU of critical technologies and industrial goods worth more than 11 billion euros.

As of February 23, 2023, the EU countries failed one of the points of the tenth package of sanctions against the Russian Federation. More than 10 states opposed the introduction of fines for failure to report on the location of Russian assets.