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US announces new sanctions targeting Russia's military-linked elites, industrial base

by Dinara Khalilova September 14, 2023 8:04 PM 2 min read
The US Treasury building in Washington, D.C., US, on Sunday, May 22, 2022. (Joshua Roberts/Bloomberg via Getty Images)
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The U.S. Treasury Department announced on Sept. 14 that it had imposed about 100 additional sanctions on Russia's elites and industrial base, financial institutions, and technology suppliers.

"With today's sanctions, the United States is continuing our relentless work to target Russia's military supply chains and deprive Putin of the equipment, technology, and services he needs to wage his barbaric war on Ukraine," said Secretary of the Treasury Janet Yellen.

"We have also made clear that those individuals and entities who profit from invasion and their proximity to the Kremlin will be held accountable, and today's actions show our global reach in imposing severe costs on Putin's oligarchs."

The U.S. Treasury introduced restrictions against Russian oligarch Andrei Bokarev, the head of major Russian rolling stock manufacturer Transmash, Bokarev's business partner Iskandar Makhmudov, who owns several Russia-based metals and mining companies, and their family members.

Bloomberg: Russian elite pull $50 billion from ‘unfriendly’ European countries
Russian billionaires have pulled assets worth $50 billion from so-called “unfriendly” European countries since the start of the full-scale war due to mounting sanctions and pressure from the Kremlin, Bloomberg reported on Sept. 14.

Bokarev has personal ties to Russian Defense Minister Sergei Shoigu and other senior Kremlin officials, while both he and Makhmudov are linked to Russian organized crime, according to the report.

Among the sanctioned Russian elite members are also Russian Deputy Defense Minister Aleksei Krivoruchko and Mkrtich Okroyan, the chief designer and a board member of two Russian aerospace companies.

The sanctioned companies include a Finland-based network delivering foreign electronics to Russia-based end-users, Turkish entities exporting dual-use goods to Russia, leading Russian manufacturing, construction, and electronics firms, as well as banks and investment companies.

The U.S. State Department also imposed further sanctions on Sept. 14, targeting over 70 individuals and entities involved in Russia's energy production, arms repair and maintenance, and technology procurement.

ISW: Putin fears North Korea deal will threaten sanctions evasion schemes
Russian dictator Vladimir Putin is likely worried that an arms deal with North Korea may expose Russia to new economic penalties and endanger current efforts to evade sanctions, the Institute for the Study of War (ISW) wrote in its Sept. 13 report.
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