US takes additional measures against Russian Financial System

F.P. Report

WASHINGTON: In coordination with our allies and partners, the United States is taking further measures today against the Russian financial system in response to Russia’s continuing premeditated war against Ukraine.  Unwavering in our support for Ukraine’s sovereignty and territorial integrity, we will continue to act with our allies and partners in imposing costs on Russia if it continues its war of choice.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has prohibited any U.S. person from conducting any transaction involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation. In addition, OFAC imposed blocking sanctions on the Russian Direct Investment Fund, a known slush fund for President Putin and his inner circle, two of its subsidiaries, and CEO Kirill Dmitriev.

We took today’s actions to impair Russia’s ability to use its international reserves in ways that undermine the impact of our sanctions, as well as to prevent Russia from accessing its wealth fund for use in its ongoing war against Ukraine.

The United States will continue to coordinate closely with our partners and allies to impose severe consequences on Russia for its war against Ukraine.  We share with our partners and allies unity of purpose, resolve, and determination to hold Russia to account for its aggression, particularly those responsible for this war of choice.