US Treasury Secretary Jacob J. Lew
The US Treasury Department has announced a fresh round of sanctions against Russia targeting banks, defence and energy firms, in response to what it calls “continued Russian efforts to destabilise eastern Ukraine.”
"Given Russia's direct military intervention and blatant efforts to destabilise Ukraine, we have deepened our sanctions against Russia today, in concert with our European allies," said US Treasury Secretary Jacob Lew.
"These steps underscore the continued resolve of the international community against Russia's aggression."
Treasury Secretary Jacob J. Lew said on Friday the Treasury has added Russia’s largest bank, Sberbank of Russia, to the existing prohibitions on US persons providing equity or certain long-term debt financing.
The extended sanctions also tighten the maturity period for new debt issued by the six Russian banks, Bank of Moscow, Gazprombank OAO, Russian Agricultural Bank, Sberbank, VEB, and VTB Bank.
Rostec, a major Russian conglomerate that operates in the defence sector, will also be subject to targeted sanctions, while the assets of five Russian state-owned defense technology firms will be blocked.
The treasury will also prohibit the exportation of goods, services (not including financial services), or technology in support of exploration or production for Russian deepwater, Arctic offshore, or shale projects that have the potential to produce oil, to five Russian energy companies – Gazprom, Gazprom Neft, Lukoil, Surgutneftegas, and Rosneft – involved in these types of projects.
The US penalties came hours after the EU strengthened its economic sanctions against Russia. Both the EU and US say the sanctions can be eased if progress is made on the ground towards peace.
“Today’s actions demonstrate our determination to increase the costs on Russia as long as it continues to violate Ukraine’s territorial integrity and sovereignty,” says US under secretary for Terrorism and Financial Intelligence David S. Cohen.
“The United States, in close cooperation with the European Union, will impose ever-increasing sanctions that further Russia’s isolation from the global financial system unless Russia abandons its current path and genuinely works toward a negotiated diplomatic resolution to the crisis.”
But Mr Lew said "it is essential that Russia work with Ukraine and other international partners to find a lasting settlement to the conflict. If Russia does so, these new sanctions could be suspended".
Nato says Russia still has about 1,000 heavily armed troops in eastern Ukraine and about 20,000 more near the border.
Russia denies sending direct military help to the rebels, insisting that any Russian soldiers there are "volunteers".
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