Financial sanctions against Russian proxies have been tightened: Biden signs executive order
Kyiv • UNN
President Biden has signed an executive order authorizing sanctions against foreign banks that facilitate transactions for Russian military structures or related services, allowing the United States to cut them off from its financial system. These sanctions could include account restrictions and asset freezes.
US President Joe Biden has signed a decree allowing foreign banks to be cut off from the US financial system for violating sanctions against Russia, UNN reports.
"the decree amends ... to allow the imposition of sanctions on foreign financial institutions that, by definition, are
- Conducted or facilitated any material transaction or arrangement for the benefit of or on behalf of any person designated to operate or acting in certain military structures of the Russian Federation: industrial sectors;
- conducted or facilitated any material transaction or transactions, or provided any service related to the Russian military-industrial base, including the sale, supply, or transfer, directly or indirectly, to the Russian Federation of any item or class of items," the White House said in a statement.
The document states that the US Secretary of the Treasury, in consultation with the Secretary of State, has the right to impose sanctions on a foreign financial organization that facilitates transactions between Russia and third countries.
The sanctions include a ban on opening accounts in the United States or restricting their use, as well as blocking property.
Recall
As reported by UNN, US President Joe Biden intends to strengthen sanctions against Russia. Secondary sanctions will allow for the prosecution of financial intermediaries in countries that help circumvent sanctions.
Add
On December 18, the EU Council officially adopted the 12th package of economic and individual sanctions against Russia, including a ban on the import, purchase or transfer of diamonds from Russia.
