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U.S. to sanction over 300 Russian elites and block Russian central bank gold

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U.S. President Joe Biden announced new actions against Russia during remarks made in the Roosevelt Room, White House Washington, U.S.A, March 8, 2022.

Kevin Lamarque | Reuters

A senior Biden administration official announced Thursday that the United States intends to sanction around 400 Russian people and entities. This includes more than 300 Russian lawmakers, as well as Russian elites and the Duma.

The second month of Russia’s brutal and unprovoked invasion of Ukraine begins Thursday. Both the G-7 Group of Major Economies and the European Union are expected to announce additional measures in order to curb Russian attempts to avoid current sanctions.

G-7 and EU will notify international organisations, as well, that Russia is no longer allowed to be operated under business-as-usual standards. The official requested anonymity so that he could preview any announcements not yet made public.

According to the official, “Our goal is to remove all the advantages and privileges Russia has enjoyed once it was a member of the international economic system.”

President Joe Biden will announce the measures during his first of three speeches planned Thursday before NATO.

The senior White House aide said that Biden would also announce an additional set of American assistance to the Ukrainian people.

According to the official, the U.S. was also ready to contribute more than $1Billion in humanitarian aid for people affected by Russia’s war in Ukraine.

Biden will also announce an additional commitment to fund global food security. The world has suffered from Russia’s invasion, and Kyiv and Moscow are the two largest producers of grain in the world.

This is the latest news. Stay tuned for new updates.

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