Russia's Gazprombank targeted in new U.S. sanctions

Washington [US], November 23: The United States imposed sanctions Thursday on more than 100 Russian financial entities and finance officials, among them Gazprombank, Russia's largest remaining bank yet to be blocked by Washington.
According to a statement by the Department of the Treasury, in addition to Gazprombank, which is partially owned by Russia's state-controlled gas company Gazprom, the newly announced sanctions also hit more than 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials.
As a result of the sanction, Gazprombank, one of Russia's largest banks, is effectively blocked in the U.S. baking system, as transactions with U.S. customers will be banned and the bank's assets in the United States will be frozen.
Additionally, the Treasury Department's Office of Foreign Assets Control is issuing an alert describing sanctions risks related to Russia's System for Transfer of Financial Messages, which the United States said was created and used by the Russian government "to evade sanctions."
"Today's sanctions targeting Russia's largest remaining non-designated bank, as well as dozens of other financial institutions and officials in Russia, will further diminish and degrade Russia's war machine," Treasury Secretary Janet Yellen said.
Yellen added that the United States "will continue to take decisive steps against any financial channels" that supports Russia in its conflict with Ukraine. ■
Source: Xinhua News Agency