Russia slaps sanctions on 61 US nationals, including State officials in tit-for-tat move

The Russian Foreign Ministry announced on June 7 that Moscow has sanctioned 61 US officials, including Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm, as well as the executives of major defence and media corporations. The action was made in response to "ever-expanding U.S. sanctions on Russian political and public figures, as well as representatives of domestic businesses," according to the ministry.

The individuals were stated to be the heads of leading military-industrial businesses, media platforms, rating agencies, aircraft and shipbuilding companies, as well as individual US State Department officials "associated with spreading false stories about 'malicious' Russian cyberattacks."

Yellen is joined on the list by US Trade Representative Katherine Tai, White House Communications Director Kate Bedingfield, and Budget Director Shalanda Young. It also names James O'Brien as the head of the State Department's Office of Sanctions Coordination. Among the business leaders targeted are Delta Air Lines CEO Edward Bastian and New York Stock Exchange Chairman Jeffrey Sprecher. Further, the sanctioned individuals are barred from entering Russia.

EU's sanctions against Russia

Meanwhile, in its latest move to punish Russia for its invasion of Ukraine, the European Union decided to restrict all seaborne imports of Russian oil. According to the report, this may reduce the amount of oil imported by EU countries from Russia by up to 90%, lowering the amount of money the Russian government earns from oil sales. The EU, along with countries such as the United Kingdom and the United States, has implemented a number of sanctions aimed at weakening major sections of the Russian economy, such as its energy and financial sectors.

Until now, EU member states imported 2.2 million barrels per day (BPD) of crude oil and 1.2 million BPD of oil products from Russia. Given the high price of oil, this has earned Russia more than $1 million every day. The EU has agreed to cease buying any oil from Russia that arrives by sea, excluding almost two-thirds of the total. They will continue to import Russian oil via pipeline for the time being. This will benefit nations like Hungary and Slovakia, which rely heavily on it.

(With agency inputs)

Image: AP