The United States is today imposing sanctions on 118 individuals and entities that operate in Russia's financial services sector and support the Kremlin's war effort. These targets include Gazprombank, Russia's largest remaining bank not previously blocked by the United States, dozens of additional Russian banks still maintaining ties to the international financial system, and individual Russian banking officials. The Department of the Treasury is also issuing an alert describing sanctions risks related to joining Russia's System for Transfer of Financial Messages, which the Kremlin created and uses to evade sanctions.

Today's action reaffirms the U.S. commitment to curtail Russia's ability to use the international financial system to conduct its war against Ukraine and disrupts Russia's attempts to make cross-border payments for dual-use goods and military materiel. We will continue to take all appropriate actions to promote accountability for those who enable or profit from Russia's illegal war.

The Department of the Treasury is taking these actions pursuant to Executive Order 14024. For more information on today's action, see Treasury's press release.