US Imposes New Sanctions on Russia
Biden Issues Executive Order to Block Property of Russian Entities
Treasury's OFAC Designates Individuals and Organizations Related to Energy and Defense Sectors
In a move to further pressure Russia for its ongoing aggression in Ukraine, President Biden has issued an executive order freezing the assets of several individuals and organizations associated with the country.
The order, signed in April 2021, targets a range of entities, including companies involved in Russia's energy and defense sectors. The Treasury Department's Office of Foreign Assets Control (OFAC) has identified specific individuals and entities as subjects to sanctions.
OFAC's actions are part of the Biden administration's broader strategy to isolate Russia and disrupt its economy. The sanctions are intended to punish Russia for its harmful foreign activities, including military aggression, cyberattacks, and election interference.
The United States has been a vocal critic of Russia's actions in Ukraine and has repeatedly called on Russia to de-escalate the conflict and withdraw its troops from the region. The new sanctions are a further indication of the Biden administration's determination to hold Russia accountable for its aggression.
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