Economic reports and analyses from financial news outlets

U.S. Treasury Sanctions Gazprombank, 50+ Russian Banks, and 118 Individuals

Nov 21, 2024, 03:38 PM

The United States Treasury has issued new sanctions targeting Russia, including Gazprombank and over 50 other Russian banks. Announced on Thursday, the sanctions aim to limit Russia's access to the international financial system and reduce funding for its war efforts in Ukraine. Additionally, 118 individuals and entities supporting the Kremlin's war efforts have been sanctioned. Despite these measures, the Treasury has issued general licenses allowing U.S. entities to cancel transactions involving Gazprombank and permitting diplomatic missions abroad to conduct operations with certain Russian banks.