July 5, 2022

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The United States will impose sanctions on more than 300 Russian elite and ban gold from the Russian Central Bank

The United States will impose sanctions on more than 300 Russian elite and ban gold from the Russian Central Bank

US President Joe Biden is seen attending the North Atlantic Council meeting during an extraordinary summit at NATO Headquarters in Brussels on March 24, 2022.

Evelyn Hochstein | AFP | Getty Images

A senior Biden administration official said Thursday that the United States plans to impose sanctions on nearly 400 Russian individuals and entities, including more than 300 lawmakers from Russia’s lower house of parliament, the State Duma and Russian elites.

As Russia’s unprovoked and increasingly brutal invasion of Ukraine enters its second month Thursday, the Group of Seven major industrialized nations and the European Union will also announce new measures to quell Russian efforts to evade existing sanctions, including those against its central bank.

said the official, who asked not to be identified in order to preview the ads that have not yet been made public.

“Our goal here is to systematically remove the advantages and privileges that Russia enjoyed as a participant in the international economic system,” the official said.

President Joe Biden will announce the measures during an address to NATO on Thursday, the first of three major speeches he will give during his day in Brussels.

The top White House aide said Biden will also announce a new set of US efforts to help the Ukrainian people.

The official said the United States was “ready to provide more than $1 billion in new funding for humanitarian assistance to those affected by the Russian war in Ukraine and its severe effects around the world,” without detailing how and when those funds would be. will spend.

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Biden will also announce a new commitment of funds to help protect global food security, which has been thrown into disarray by the Russian invasion because both Moscow and Kiev are the world’s largest grain exporters.

Through the US government’s Feed the Future initiative, the Biden administration will provide $11 billion over the next five years to address threats to food security and prevent malnutrition, the official said.

Currently, the lion’s share of Ukraine’s grain exports goes to Africa and Asia, and American money will be deployed in many countries where the population is especially vulnerable to rising food prices.

In addition to the funds, Biden will announce the launch of a new European Democratic Resilience Initiative with at least $320 million in new funding to support human rights and advance democratic principles in Ukraine and neighboring countries.

EDRI will include a media component to combat disinformation, protect activists and vulnerable groups and fund anti-corruption and anti-corruption efforts, “strengthen democratic institutions, combat corruption, and the rule of law in the region, and support accountability for human rights abuses and violations of international law,” according to a White House fact sheet.