The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

Associated Press

WASHINGTON (AP) — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday. The action is intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining non-sanctioned bank would further diminish Russia’s military effort and “will make it harder for the Kremlin to evade U.S. sanctions and fund and equip its military.” In addition, more than 50 internationally connected Russian banks 40 Russian securities registrars, and 15 Russian finance officials were hit with sanctions.