Zelenskyy Hails US Sanctions on Russian Financial Institutions as Major Blow to Putin’s War Efforts

Ukraine’s President Volodymyr Zelenskyy has expressed his gratitude to the United States for imposing sanctions on over 50 Russian financial institutions, a move aimed at crippling Russia’s economy and its war efforts against Ukraine. The announcement, made on Thursday via Zelenskyy’s official X handle, comes at a critical time as Russia continues to escalate its military actions in Ukraine.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Gazprombank—one of Russia’s largest banks—and six of its subsidiaries, along with more than 50 other financial institutions. Additionally, the sanctions target over 40 Russian securities registrars and 15 finance officials. These actions are seen as a significant step in isolating Russia from the global financial system.

Zelenskyy thanked President Joe Biden and his administration for their commitment to targeting Russia’s economy and war resources. He stated, “The U.S. strikes a significant blow to Putin’s war machine and further isolates his bloody, corrupt economy from the global market.” Zelenskyy also emphasized that the sanctions came at a crucial moment, with Russia attempting to undermine international law through missile threats.

The sanctions are part of a broader strategy by the U.S. and its allies to restrict Russia’s access to the international financial system and limit its ability to fund its military. The sanctions package is also seen as a response to Russia’s increasing threats, including its activation of nuclear programs, amid the ongoing war in Ukraine.

Secretary of the Treasury Janet L. Yellen underscored the importance of these sanctions, noting, “Today’s sanctions targeting Russia’s largest remaining non-designated bank, as well as dozens of other financial institutions and officials in Russia, will further diminish and degrade Russia’s war machine.” She also highlighted that these measures would make it more difficult for Russia to evade U.S. sanctions and continue its military operations.

Zelenskyy expressed his appreciation for the bipartisan support in the U.S. Congress for these sanctions and reiterated the need for continued global unity to weaken tyranny and bolster international security.

This latest development comes on the heels of a series of military escalations, with the U.S. also approving the use of long-range missiles by Ukraine, while Russia has taken further steps in its nuclear program.