School buses carrying Ukrainian refugees drive past a damaged bridge near Kharkiv, Ukraine, on May 30, 2022. The White House Thursday announced new sanctions against oligarchs and elites close to Russian President Vladimir Putin. Photo by Sergey Kozlov/EPA-EFE
June 2 (UPI) -- The White House Thursday announced a new round of sanctions against Russia for its invasion of Ukraine. Targets include oligarchs and elites close to Russian President Vladimir Putin as well as more prominent Russian business and government officials.
The Department of Treasury is sanctioning close Putin associate Sergei Roldugin and his family members. According to the White House, Roldugin is "money-manager of Putin's offshore wealth."
The added sanctions also target Putin-linked yachts and brokerages, including Imperial Yachts and its CEO, which the White House said provide services for Putin's inner circle.
According to the White House, sanctions are having a heavy impact on Russia's economy.
"The Russian economy is staggering under the weight of financial and trade sanctions, export controls, and the exodus of approximately 1,000 U.S. and multinational businesses," the White House said in a statement.
"Analysts are projecting a double-digit decline in Russian GDP in 2022, soaring inflation estimated near 20% in 2022, and Putin's war is projected to wipe out the last 15 years of economic gains in Russia."
The Department of State is adding more oligsarchs and elites close to Putin to the sanctions list. They include God Nisanov; Maria Zakharova, Russian Foreign Ministry spokesperson; and Alexy Mordashov, one of Russia's wealthiest billionaires.
Government ministers overseeing key sectors integral to the Russian economy are also targeted by the new sanctions, along with asset management and service companies the White House said are "key to Russian attempts to evade sanctions."
The president of United Aircraft Corporation, a state-owned company playing a role in supporting Russia's defense industry, was sanctioned. The White House said that corporation supplies "the military's destructive activity in Ukraine."
The Commerce Department is adding 71 parties located in Russia and Belarus to the Entity List in an effort to cut them off from getting U.S.-origin items or foreign-made products derived from certain U.S. technology or software.
"So far, the United States has added 1,000 parties to Treasury's Specially Designated Nationals and Blocked Persons List and over 300 parties have been added to Commerce's Entity List," the White House statement said.