As Washington cranks up pressure on Russia for its invasion of Ukraine, a source familiar with the situation said on Wednesday that the US is developing a sanctions package targeting more Russian oligarchs, as well as their firms and assets.
After Russia’s military invaded Ukraine in the greatest assault on a European state since World War Two, Washington announced three rounds of sanctions last week, including targeting Russian President Vladimir Putin and major banks. The assault is described by Moscow as a “special operation.”
Sanctions were imposed on Russian “elites,” according to the US Treasury Department, including people with ties to Sberbank, VTB, Rosneft, and the Federal Security Service (FSB).
The list of people being prepared by the White House and Treasury will overlap with some of those sanctioned by the European Union on Monday, according to the Washington Post, which first reported the US was preparing to expand sanctions against Russian oligarchs. The list of people being prepared by the White House and Treasury will overlap with some of those sanctioned by the European Union on Monday, including Alisher Usmanov, the owner of an iron and steel conglomerate.
The EU imposed sanctions on 26 significant individuals on Monday in response to Russia’s invasion of Ukraine, including oligarchs and business leaders in the oil, banking, and finance industries.
The EU stated in a statement that it also targeted government officials, high-ranking military personnel, and “propagandists who helped propagate anti-Ukrainian propaganda.”
US President Joe Biden said in his State of the Union address on Tuesday night that the US would attempt to take the yachts, luxury homes, and private jets of wealthy Russians with ties to Putin.
Biden replied, “We’re coming for your ill-gotten gains.”
Last week, the US and its partners announced the formation of a task force to track down and freeze the assets of sanctioned Russian businesses and billionaires.