US extends sanctions on Russia

Washington adds 34 names to the list of sanctions against Russia

US Treasury Dept
Treasury Department building in Washington extends sanctions.

Officials in Washington announced earlier today they are adding 34 individuals and entities to the list of sanctions in order to “pressure Russia”.

The US Treasury Department said in a statement that “today’s steps support the US commitment to seek a diplomatic resolution to the crisis in Ukraine by maintaining our sanctions on Russia”.

The sanctions add fourteen entities and individuals who have participated in “evasion of existing US sanctions or are 50 percent or more owned by a designated entity,” the statement from the Treasury Department read.

The list will also add 6 “separatists designated for threatening the security or stability of Ukraine” and two former Ukrainian government officials “for being complicit in the misappropriation of public assets and/or threatening the security or stability of Ukraine.”

According to the statement, the sanctions will be placed on twelve entities for operating in Crimea.

The Treasury said the sanctions will remain in effect until Crimea is returned to Ukraine and is under its control, demonstrating Washington’s commitment to refuse to recognize Crimea as part of Russia.

The sanctions from Washington target entities and individuals with links to Russian businessmen Boris Rotenberg, Arkady, and Gennady Timchenko .

The US sanctions also target some of subsidiary companies that are fifty percent or more owned by the previously-named Rostec, Sberbank, and VTB Bank.

The European Union announced on Monday that it is prolonging the economic sanctions aimed at Russia for another 6 months in response to the situation in Ukraine and Crimea. The sanctions place restrictions on lending to major state-owned Russian banks, as well as oil and defense companies.

The move to extend the sanctions was criticized by Russia as “ineffective” and “illogical.” Russian Foreign Ministry said in a that the European Union should help Russia in its fight against terrorism instead of imposing restrictive measures.