US "Sanctions on Putin and Privileged Class Economy"... Cutting Off Russian Oligarchs' Funding

[Image source=EPA Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] On the 3rd (local time), the U.S. Biden administration unveiled additional economic sanctions targeting oligarchs close to Russian President Vladimir Putin and their families. The assets of these individuals, including Russian billionaire Alisher Usmanov, will be frozen in the U.S. and they will be blocked from the financial system.

The White House announced additional economic sanctions against the Russian privileged class and their families who support President Putin. Visa restrictions, including entry bans into the U.S., will be imposed on 19 oligarchs and 47 family members. The White House stated, "They have gained wealth and high status at the expense of the Russian people," adding, "They will be blocked from the U.S. financial system, their assets frozen, and their use of property prohibited."

The full sanctions list includes eight individuals such as Dmitry Peskov, Putin’s spokesperson; Usmanov, owner of the Russian steel company Metalloinvest; and Boris Rotenberg, shareholder of the gas pipeline construction company Stroigasmontazh. The sanctions cover not only them and their families but also the companies they own, as well as their jets and yachts.

This aims to cut off the 'money flow' of Putin’s close associates who are believed to have funded the war. The White House said it will cooperate with governments worldwide to identify and freeze yachts, luxury apartments, and assets that represent illicit gains held by these individuals. Earlier, in his State of the Union address on the 1st, President Biden warned, "We will work with our European allies to find and seize your yachts, luxury apartments, and private jets."

Additionally, the U.S. imposed sanctions on seven organizations and 26 individuals spreading disinformation within Russia.

White House Press Secretary Jen Psaki said at a briefing, "We want President Putin to feel the pressure," adding, "We also want his close associates to feel the pressure."

This content was produced with the assistance of AI translation services.