Biden plans to tighten financial sanctions for helping Russia
U.S. President Joe Biden plans to approve tougher economic restrictions against Russia today. They will allow prosecution of financial intermediaries in countries that help to circumvent sanctions.
A senior official of the Biden administration announces the tightening of sanctions, Censor.NET reports with reference to RBC-Ukraine.
"Biden intends to sign a new executive order that will strengthen U.S. sanctions against Russia, with a particular focus on financial support for Russia's war," he said.
His statement also said that the Kremlin spent a lot of time and resources directing its intelligence services to find ways to evade sanctions and export controls. Intermediaries and front companies were set up, using financial intermediaries to circumvent restrictions and obtain critical components for the war. These are goods such as semiconductors, machine tools, chemical precursors, ball bearings, and optical systems.
"This tool will be the first to allow us to use secondary sanctions to prosecute financial institutions," he added.
A representative of the Biden administration noted that the United States had been talking to heads of state and banks for two years about the inadmissibility of material assistance to Russia. "And with the president's signing of the decree, we have a tool that allows us to hold them accountable," the official said.
