"US Tightens Putin's Funding: Sanctions Imposed on 3 Russian State Broadcasters"

Accounting and Consulting Services Also Prohibited

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] The U.S. Biden administration announced additional sanctions against Russian state-run broadcasters and others on the 8th (local time), immediately following the Group of Seven (G7) summit.

The White House stated in a press release that "sanctions will be imposed on state-controlled media outlets in Russia that fuel Putin's war," adding, "We will sanction three broadcasters in Russia that have the highest viewership and are directly or indirectly controlled by the state."

The Russian broadcasters targeted by the sanctions are Channel One, Rossiya-1, and NTV. From now on, all U.S. companies are prohibited from selling advertisements or other equipment to these broadcasters.

The White House explained the rationale behind the sanctions, saying, "These outlets generate the most revenue from abroad, which then flows back as income to the Russian state."

The U.S. also banned Americans from providing services such as accounting, trust, corporate formation, and management consulting to Russians. This measure builds on previous sanctions that restricted exports of aerospace, maritime, electronics, technology, and defense-related goods to Russia.

The White House stated, "These services play a key role in helping Russian companies and the privileged class accumulate wealth, generate revenue for Putin's war machinery, conceal that wealth, and evade sanctions."

Additionally, the U.S. plans to impose further visa restrictions on Russian military personnel involved in human rights abuses, violations of international humanitarian law, and corruption in Ukraine. The Wall Street Journal explained that the sanctions target more than 2,600 members of the Russian and Belarusian militaries, including those involved in the Bucha civilian massacre.

Sanctions will also be imposed on 27 senior executives of Gazprombank, the financial subsidiary of the Russian state gas company Gazprom; 8 executives of Sberbank, the largest financial institution owning one-third of Russia's financial assets; and 10 subsidiaries of the Russian Industrial Bank.

Furthermore, the G7 has committed to gradually phasing out or banning imports of Russian oil. The White House said, "We pledge to gradually eliminate dependence on Russian energy, including by phasing out or banning imports of Russian oil."

The sanctions list also includes Promtekhnologiya, a firearms manufacturer; seven shipping companies operating 69 vessels; and maritime towing companies. The White House also announced that the U.S. Nuclear Regulatory Commission will suspend general licenses for exports of special nuclear materials to Russia.

A U.S. government official emphasized, "Today's measures are part of a continuous effort to systematically remove Russia from the global financial and economic system," adding, "We will strongly strike at the arteries of Putin's economy and deny the revenue needed to fund this war. If the war continues, there will be no safe haven for the Russian economy."

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