The US Is Placing New Sanctions On 38 Russian Individuals And Entities

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As part of a broader strategy to address what administration officials called Russia’s global pattern of malign activity, the US on Friday placed severe sanctions on oligarchs and companies that have "disproportionately benefited" from the Kremlin's actions.

The individuals and entities include energy and weapons companies, as well as powerful individuals close to Putin "in Moscow who formulate and support policies of aggression," according to senior administration officials.

The US Treasury and Office of Foreign Asset Control are implementing the designations.

"These actions are not aimed at the Russian people," officials said.

The designations are intended to cause the entities "to wield their influence to put an end to the recurring cycle of Russia’s destabilizing activities across the globe."

Officials listed Russia's "occupation of Crimea, instigation of violence in Eastern Ukraine, support for Assad in Syria, and ongoing malicious activity," including cyber activity, as reasons for the economic sanctions.

"Most importantly it’s a response to Russia’s continued attempts to subvert Western democracy," they said.

The designations include seven Russian oligarchs, twelve companies, 17 senior government officials in Putin's inner circle, and a state-owned Russian weapons company.

The Chairman of the Management Board of Gazprombank, Russia's largest state-owned bank, as well as the Director of the Russian Institute for Strategic Studies, Minister of Internal Affairs of the Russian Federation, Chairperson of the Council of the Federation Committee on Foreign Affairs, and Secretary of the Russian Federation Security Council were all included in the designations.

Former Acting CIA Director John McLaughlin told NBC earlier this week that sanctions "on Putin's inner circle, the dozen or so wealthy oligarchs who park money and real estate in the West" would be a more effective action than the expulsion of diplomats.

This is a developing story. Check back for updates.

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