U.S. imposes new sanctions on Russian individuals, banks

The U.S. is imposing nearly 100 new sanctions on Russian elites and its industrial base, financial institutions and technology suppliers in response to the country’s war against Ukraine, the Office of Foreign Assets Control announced today. Among the new designations are two Russia-based banks, Bars Bank and Sinko Bank, and several Russia-based wealth management consulting, auditing and investment firms. In addition, the State Department designated more than 70 individuals for sanctions.