As Washington ratchet up pressure on Moscow over its invasion of Ukraine, the US imposed new sanctions on Russia on Thursday, targeting dozens of Russian defense businesses, hundreds of members of parliament, and the chief executive of the country’s largest bank.
In a measure aimed at preventing Russia from dodging sanctions, the US Treasury Department recently released instructions on its website warning that gold-related transactions involving Russia may be sanctionable by US authorities.
“Our goal here is to gradually strip Russia of the benefits and privileges it once enjoyed as a member of the international economic order,” a senior administration official explained.
Since Russian forces invaded Ukraine over three weeks ago in the worst assault on a European state since World War Two, the US and its allies have slapped numerous rounds of sanctions, including targeting the country’s top lenders and President Vladimir Putin. The assault is described by Moscow as a “special operation” aimed at disarming and “denazifying” its neighbor.
According to the person, the US told Putin that if he attacked Ukraine, he would suffer rapid and harsh consequences, and they have followed through on that promise. According to the official, the country is experiencing terrible inflation and economic suffering, which will force it out of the top 20 economies in the world.
“Russia will soon confront a severe scarcity of ideas, people, and technology to compete in the twenty-first century,” the source said, “and Putin will be left with a strategic failure of his own design.”