President Joe Biden is seen in a conference call with the leaders of the G7 and Ukrainian President Volodymyr Zelensky on Sunday. The United States announced new sanctions on Russia after Biden met with the leaders. Photo courtesy President Joe Biden/Twitter
May 8 (UPI) — The United States announced new sanctions on Russia after President Joe Biden met with the leaders of the Group of Seven and Ukrainian President Volodymyr Zelensky on Sunday.
“Our ambitions are already exacting an massive toll on Russia’s economy and our export controls have strangled Russia’s access to critical technology and the supply chains it needs to sustain its military statement,” the White House said in a
“Putin’s war is projected to wipe out the last 15 years of economic gains in Russia. As a result of our export controls, Russia is struggling to replenish its military weapons and equipment.”
The White House said that the United States will sanction three of Russia’s most-viewed television stations controlled by the Kremlin — including Russia-1, Channel One Russia and NTV. Western companies were among the top advertisers at the stations last year.
A senior administration official said on a press call that US advertising dollars, broadcast technology, video cameras, microphones and equipment for sound will no longer be available to Russia’s state TV stations.
“Some of you have reported on the lies upon lies that are spread on these mouthpieces of the Kremlin, such as claiming the people of Bucha were not killed until days after Russians left the region, or that the placement of dead Ukrainian bodies was staged, or that the brave Ukrainians defending their country are actually the aggressors,” the official told on the call.
The US will also now prohibit US citizens from providing certain business services such as accounting and corporate formation or management consulting to anyone inside Russia.
“These services are key to Russian companies and elites building wealth, thereby generating revenue for Putin’s war machine, and to trying to hide that wealth and evade sanction,” the White House said.
“This action builds on previous prohibitions to restrict the export of goods related to aerospace, marine, electronics, technology, and defense and related materiel sectors of the Russian economy.”
The entire G7 — which includes Canada, France, Germany, Italy, Japan and Britain — has now pledged to phase out and ban the import of Russian oil, which the United States has already done.
“No export is more important to Putin than oil; it’s the main artery of his economy,” the senior administration official said. “And the [European Union] is now on the cusp of joining the US, Canada, and the UK in cutting off this trade.”
The White House said it would also impose new rules to restrict Russia’s industrial sector, including controls on such things as industrial engines and bulldozers.
“These new controls will further limit Russia’s access to items and revenue that could support its military capabilities,” the White House said in its statement.
The senior administration official said the G7 picked goods, services and technologies on which to place controls because European countries and G7 partners in Asia were the dominant suppliers and could more effectively limit Russia’s access to them.