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US and Allies target Russia with new sanctions going after media, finance, and elitists

Additional sanctions on Russia will be imposed by The U.S., European Union and Group of Seven nations, targeting elites and services that help finance the war in Ukraine, and also the country’s state-controlled media, a senior Biden administration official said.

This announcement was followed by a virtual meeting between Biden and the leaders of the G-7 and Ukrainian President Volodymyr Zelenskyy, to reinforce their shared commitment to strengthening the war-torn country’s position on the battlefield and at the negotiating table.

The official said that three of Russia’s most viewed state-controlled television stations Joint Stock Company Channel One Russia, Television Station Russia-1 and Joint Stock Company NTV Broadcasting Company will be sanctioned by The U.S., adding that the stations have been among the largest recipients of foreign revenue, which feeds back into the Russian state, per reports.

The official also said that in an effort to limit key services to Moscow companies and elites whose wealth generates revenue for Russia and who are trying to hide that money and evade sanctions, the administration will also prohibit U.S. individuals from providing accounting, trust and corporate formation, or management consulting services to anyone in the Russian Federation.

These new sanctions will be built on previous restrictions on the export of goods in the aerospace, marine, electronics, technology and defense sectors.

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Russian exports will further be restricted by the U.S., as a company that produces rifles and other weapons used in military operations in Ukraine named Promtekhnologiya will also be sanctioned, as well as seven shipping companies and a marine towing company, the official said. The Nuclear Regulatory Commission will also suspend licenses for the export of certain nuclear materials to Russia.

A new rule to impose additional sanctions on Russia’s industrial sector will be issued by the U.S., including a broad range of input material and equipment, such as wood products, industrial engines and motors, to limit the country’s access to such items as well as revenue that could support its military capabilities.

The U.S., Britain, France, Germany, Italy, Japan and Canada, A.K.A. the G-7, has also committed to phasing out or banning Russian oil imports.

New visa restrictions will be issued also by the U.S. on Russian military officials and Moscow-backed authorities allegedly involved in human rights abuses, violations of international humanitarian law or public corruption in Ukraine.