US Targets Russian Banks, Nuclear Sector Likely To Avoid Sanctions

The United States is targeting additional measures against Russian banks in a new raft of sanctions to be released in coordination with the European Union on the February 24 anniversary of Russia's invasion of Ukraine, according to analysis from Reuters.

• James O'Brien, head of the U.S. State Department's Office of Sanctions Coordination, told Reuters: "We have immobilised about 80% of the assets in the Russian banking sector. We are looking at additional banks and financial institutions to see how Russia deals with the outside world. It is very possible that there will be more action."
• Gazprombank, identified as a potential target of fresh sanctions, may evade measures due to their role in handling energy transactions.
• Reuters: "It is unclear how ambitious the new restrictions will be, given the desire among some European countries, including Hungary and, to a lesser extent, Germany, to temper further curbs to soften the economic impact."
• The Reuters report also suggests that measures targeting Russia's nuclear sector, advocated by Poland and Ukraine, are likely to fail with Hungary saying it will veto the move.