US to impose fresh sanctions on Russian oligarchs, including travel ban

Author: Yuvi March 4, 2022

US to impose fresh sanctions on Russian oligarchs, including travel ban

The United States will impose new sanctions on Russian oligarchs on Thursday, a source familiar with the latest effort to pressure the Kremlin to halt its invasion of Ukraine told AFP.
The source said the sanctions, first reported by Bloomberg, would match the EU’s earlier measures against Russia’s wealthiest figures and expand them to include a travel ban in the United States and allow oligarchs to own their wealth. Will also prevent family members from relocating.
The EU sanctions announced on Monday targeted prominent, wealthy individuals under President Vladimir’s regime. These included Igor Sechin, head of state oil company Rosneft, and Nikolay Tokarev, owner of pipeline mammoth Transneft.
Three people were also added by Forbes to Russia’s top 10 richest people: metal magnate Alexey Mordashov, tycoon Alisher Usmanov, and businessman and Putin friend Gennady Timchenko.
Also there were top bankers Mikhail Fridman and Petr Aven.
In addition, Sergei Roldugin, a cellist and longtime Putin confidante, was accused of “‘shuffling'” at least $2 billion through banks and offshore companies as part of Putin’s hidden financial network. was accused of.
Putin’s longtime spokesman Dmitry Peskov was also on the list.
The United States and its European allies intend to inflict financial pain on the Russian elite in order to get Putin, who during his two decades in power has made himself omnipotent and appears invulnerable to outside pressure.
The oligarchs – government officials and business owners who have amassed vast wealth inside an economy where only Putin loyalists can thrive – are vulnerable because most of their wealth is tied to Western interests.
They own coveted properties in New York, sports clubs to the west, giant yachts in the Mediterranean, and travel in luxury around the world to send their children to the most expensive American universities.
Much of that lifestyle is about to stop now.
The White House would not comment on the expected new restrictions.

4 March, 2022, 7:27 am

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