US and allies announce new sanctions against Russian bank executives, state media, military officials

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The United States and allies have announced a wave of news sanctions against Russia Sunday, targeting 2,600 Russians . officials, executives of the Russian state-owned Gazpombank bank average retail outlets and other individuals and companies that the West believes are responsible or complicit of Putin invasion of Ukraine.

President Biden and other G-7 leaders met with Ukrainian President Volodymyr Zelenskyy on Sunday and promised to phase out their dependence on Russian oil as well.

“We will make sure we do this in a timely and orderly manner and in ways that give the world time to secure alternative supplies,” leaders from the United States, Great Britain, Canada, Germany, France, Italy and Japan said in a joint statement.

More than two dozen executives from Gazpombank, which facilitated the sales of Russian energy giant Gazprom, have been hit by sanctions. The natural gas producer said on Sunday that it was still supplying natural gas to European consumers via Ukraine.

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A new ban on US consulting and accounting firms from doing business in Russia is aimed at preventing Russian oligarchs from evading sanctions and “generating revenue for Putin’s war machine,” the White House said.

“Preventing Russia from accessing valuable US professional services increases pressure on the Kremlin and disrupts its ability to evade sanctions imposed by the US and our partners,” said the Secretary of the Treasury. Janet Yellen said in a statement.

A worker rides a bicycle at the BP Ruhr Oil refinery in Gelsenkirchen, Germany on Monday, March 28, 2022.
(Photo AP / Martin Meissner, file)

Visa restrictions have been imposed on some 2,600 Russian and Belarusian military leaders and other officials who were involved in the invasion of Ukraine.

Three of Russia’s most popular broadcasters – Joint Stock Company Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company – were also cut off from Western advertising as part of the sanctions announced Sunday.

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As the United States and allies continue to increase pressure on the Russian economy through sanctions, the Biden administration has also announced a further $ 150 million security assistance package in Ukraine this weekend, which will include 25,000 155mm artillery rounds, 3 AN / TPQ-36 counter-artillery radars and other military equipment.

Russian President Vladimir Putin meets his Belarusian counterpart Alexander Lukashenko in the Moscow Kremlin on March 11.

Russian President Vladimir Putin meets his Belarusian counterpart Alexander Lukashenko in the Moscow Kremlin on March 11.
(MIKHAIL KLIMENTYEV / SPUTNIK / AFP via Getty Images)

President Biden is urging Congress to also approve $ 33 billion in military and economic aid for Ukraine which he requested this week.

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The new round of sanctions comes before Victory Day on May 9 in Russia, when the country celebrates the defeat of Nazi Germany and the end of World War II.

Reuters contributed to this report.