Treasury Department Actions Target Three Russian State-Owned Banks, and one Russian State-Owned Defense Technology Entity

WASHINGTON – In response to Russia’s continued efforts to destabilize eastern Ukraine, the U.S. Department of the Treasury today imposed prohibitions on additional entities operating within the financial services sector of the Russian economy pursuant to Executive Order (E.O.) 13662.

Specifically, Treasury imposed sanctions that prohibit U.S. persons from providing new financing to three major Russian financial institutions, limiting their access to U.S. capital markets. Treasury today has also designated one Russian state-owned defense technology firm pursuant to Executive Order (E.O.) 13661. These measures coincide with actions taken to suspend U.S. export credit and development finance to Russia.

“In light of Russia’s continuing support for separatists in Ukraine, we took additional steps today to further increase financial pressure on the Russian government,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “These actions, along with actions announced today by the European Union, significantly increase the costs to Russia for its efforts to undermine Ukraine’s sovereignty. We are prepared to continue to expand these sanctions if Russia refuses to change course.”

About the author

Express Telegraph

Express-Telegraph is a news outlet for the 21st century. Based in Metro Atlanta, the outlet focuses on news, politics and sports centered on The Peach State. Get on board the Express.