Additional measures against the Russian financial system

In coordination with our allies and partners, the United States is today taking further action against the Russian financial system in response to Russia’s continued premeditated war against Ukraine. Unwavering in our support for Ukraine’s sovereignty and territorial integrity, we will continue to work with our allies and partners to impose costs on Russia if it pursues the war of its choice.

The Office of Foreign Assets Control (OFAC) of the United States Treasury Department has prohibited any American person from carrying out any transaction involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation or the Ministry of Finance of the Russian Federation. . In addition, OFAC imposed blocking sanctions on the Russian Direct Investment Fund, a slush fund known to President Putin and his entourage, two of his subsidiaries and CEO Kirill Dmitriev.

We have taken today’s action to impede Russia’s ability to use its international reserves in a way that undermines the impact of our sanctions, as well as to prevent Russia from accessing its wealth fund to use it in its ongoing war against Ukraine.

The United States will continue to coordinate closely with our partners and allies to impose severe consequences on Russia for its war against Ukraine. We share with our partners and allies unity of purpose, resolve and determination to hold Russia accountable for its aggression, especially those responsible for this war of choice.

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Don F. Davis