US Imposes Additional Sanctions on 328 Members of Russian State Duma and Parliament

[Asia Economy New York=Special Correspondent Joselgina] On the 24th (local time), the Biden administration imposed sanctions on the Russian State Duma (the lower house of the Federal Assembly) and 328 members of the Duma as part of additional sanctions in response to Russia's invasion of Ukraine.

According to the additional sanctions announced by the U.S. Treasury Department on the same day, the sanctions target includes not only Duma members but also 48 Russian defense-related companies, including missile and helicopter manufacturers. In addition, dozens of Russian elites were added to the sanctions list, including German Gref, CEO of Sberbank, Russia's largest state-owned bank, billionaire Gennady Timchenko, and 17 directors of Sovcombank, a Russian financial institution.

With this measure, the number of Russians blacklisted, including corporations, exceeds 400.

The assets they hold in the United States will be immediately frozen. Travel to the U.S. and transactions with Americans are also prohibited. The Treasury Department stated that any transactions involving gold related to the Russian Central Bank are subject to U.S. sanctions. This effectively blocks transactions involving gold held by the Russian Central Bank.

The Treasury Department explained, "This is to weaken the Russian Central Bank's ability to use foreign exchange reserves, including gold, to support the Russian economy and finance the war." Russia's gold reserves are known to be worth approximately $130 billion.

This sanction drew attention as it was announced while President Biden was visiting Brussels, Belgium, to discuss responses to the Ukraine invasion. On the same day, President Biden attended the NATO, European Union (EU), and Group of Seven (G7) summits, and will also visit Poland, which borders Ukraine.

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