U.S. Issues More Sanctions Against Russia Over Ukraine

This article is from the archive of our partner .

The United States announced on Thursday that it has issued further sanctions against Russia due to the situation in Ukraine. These sanctions target some of the largest and most profitable companies in Russia, as well as specific Russian officials and individuals close to President Vladimir Putin. 

The companies targeted include Gazprombank, which is Russia's third largest bank, Vnesheconombank, another bank which has particularly close ties to Putin, and Novatek, which is the largest supplier of natural gas in Russia. Of particular note is Rosneft, a major energy company with close ties to Chevron and Exxon Mobil. They currently have a $900 billion oil drilling deal in the Arctic with Exxon underway. The newest sanctions now forbid U.S.-based companies from issuing new, long-term financing agreement; however, assets have not been completely frozen. 

The list also includes five Russian officials, as well as 11 entities, whose assets have been frozen. This includes two weaponry makers: Kalashnikov, which makes the popular AK-47 assault rifle, and UralVagonZavod, which makes tanks.

These sanctions come after President Obama spoke with leaders in Europe, including British Prime Minister David Cameron and German Chancellor Angela Merkel. Merkel agreed to "take immediate steps to de-escalate the situation in eastern Ukraine amid the ongoing violence there." 

This article is from the archive of our partner The Wire.