Statement by National Security Advisor Jake Sullivan on Further Sanctioning Russia's Use of the International Financial System

In September, President Biden announced a surge in security assistance and additional actions to help Ukraine as it continues to resist Russia's aggression. And today, the United States is imposing significant new sanctions on over 50 financial institutions to further degrade Russia's ability to use the international financial system to fund and prosecute its brutal war against the people of Ukraine. These targets include Gazprombank, Russia's largest remaining bank not sanctioned by the United States, as well as 50 other persons and entities operating in the Russian financial sector.

In response to Russian aggression, President Biden has led international efforts alongside the G7 and many of our allies and partners to hold Russia accountable for its aggression. Today's sanctions will further curtail Russia's abuse of the international financial system to help finance its war against Ukraine.

The United States remains committed to putting Ukraine in the strongest possible position, and we will continue to take all available steps to do so from surging security assistance to imposing and fully enforcing sanctions and other restrictions on Russia's war machine.