US announces new Russia sanctions after Ukraine invasion

US announces new Russia sanctions after Ukraine invasion

Washington (Web Desk): The United States announced a package of new sanctions against Russia and further aid for Ukrainian refugees.

The US Treasury Department also issued guidance on its website warning that gold-related transactions involving Russia may be sanctionable by US authorities, a move aimed at stopping Russia from evading existing sanctions.

“Our purpose here is to methodically remove the benefits and privileges Russia once enjoyed as a participant in the international economic order,” a senior administration official said, speaking on condition they not be named.

The United States and its allies have imposed several rounds of sanctions, including targeting the country's largest lenders and President Vladimir Putin, since Russian forces invaded Ukraine a month ago in the biggest assault on a European state since World War Two.

Among the new sanctions targets are more than 40 defence companies, including state-owned Tactical Missiles Corp and 28 firms to which it is linked, as well as its general director, the Treasury said in a statement.

The Treasury said Washington's action aligned with similar measures taken by the EU, the United Kingdom and Canada.

The Treasury said the conglomerate, which Britain has already hit with sanctions, produces naval systems and weapons that Russia is using against Ukraine, including the Kh-31, a high-speed airborne guided missile that has been employed extensively in Moscow’s offensive.