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The US today banned the import of new Russian gold and imposed sanctions on over 100 targets.
The U.S. Treasury Department said in a statement that it had imposed sanctions on 70 entities, many of which it said were critical of Russia’s defense industrial base, as well as 29 individuals in a bid to thwart Russia’s ability to develop and deployed weapons and technology used in the invasion of Ukraine.
Treasury Secretary Janet Yellen said in a statement: “The aim of the Russian defense industry will be to degrade the capabilities of (Russian President Vladimir) Putin and further hinder his fight against Ukraine, which is already plagued by weak morale.” broken supply chains and logistical failures.
Also sanctioned were Russia’s state airspace and defense conglomerate Rostec and United Aircraft Corporation, the maker of Russia’s MiG and Sukhoi fighter jets.
The US Treasury said it aimed to “weaken Russia’s ability to continue its air strike on Ukraine”.
On Sunday, the United Kingdom, the United States, Canada and Japan kicked off the G7 summit by banning imports of Russian gold.
The ban will apply to freshly extracted or refined gold, but will not affect previously exported gold of Russian origin.
Speaking about this move, Prime Minister Boris Johnson said: The measures we have announced today will directly hit the Russian oligarchs and will hit the heart of Putin’s war machine.
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