New U.S. sanctions target Russian officials and businesses

U.S. sanctions against Russia, announced Monday, targeted seven individuals and 17 companies.
By Ed Adamczyk Contact the Author   |  April 28, 2014 at 11:29 AM
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WASHINGTON, April 28 (UPI) -- The United States imposed additional sanctions Monday against Russia, this time targeting seven individuals, including two regarded as part of Russian President Vladimir Putin’s inner circle of advisers, and 17 companies.

The sanctions involve travel bans and the freezing of assets of the individuals, as well as the freezing of company assets. 13 of the companies will face additional restrictions with the denial of export approval.

The White House said the sanctions were a response to “Russia’s continued illegal intervention in Ukraine.”

The list of individuals includes Igor Sechin, president of the state-owned Rosneft oil company; Dmitri Kozak, deputy prime minister; Vyacheslav Volodin, Putin’s deputy chief of staff; and Alexei Pushkov, chairman of the international affairs committee of Russia’s lower parliament, the Duma. Although the head of the energy company Gazprom, Aleksei Miller, was expected to be on the list, he was not.

Among the companies sanctioned were several banks, including Sobinbank, and the Stroytransgaz energy company.

In targeting Sechin, the White House sanctioned the chief of a partner with ExxonMobil, in numerous joint projects. It is unknown if he has U.S. assets to freeze, but he will no longer be permitted to enter the United States.

The sanctions “will increase the impact we have already begun to see on Russia’s own economy … Russian economic growth forecasts have dropped sharply, capital flight has accelerated and higher borrowing costs reflect declining confidence in the market outlook,” noted U.S. Treasury Secretary Jacob Lew.

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