US imposes visa restrictions and sanctions on Russian oligarchs

• 19 Russian oligarchs, as well as 47 of their family members and close allies, to face visa restrictions in the US

• Seven Russian corporations suspected of disseminating misinformation will face full blocking sanctions

The US is implementing sanctions and visa restrictions on several Russian elites and their families to increase pressure on Russia for its invasion of Ukraine.

The US will penalize several of Putin's associates and their family members. 

Alisher Burhanovich Usmanov, one of Russia's wealthiest persons and a close supporter of Putin, is one of the elites. His property, including his superyacht, one of the world's largest, and private jet would be prohibited from use in the US and by US individuals.

Read more: Russian troops attack Ukraine nuclear plant as crisis accelerates

In addition, 19 oligarchs, as well as 47 of their family members and close allies, will face visa restrictions in the country.

The Biden administration said that it will impose full blocking measures on seven Russian corporations suspected of disseminating misinformation, as well as 26 people linked to those organizations. 

The White House said that “these entities have spread false narratives that advance Russian strategic objectives and falsely justify the Kremlin’s activities.” 

Read more: Russian business tycoons lose nearly $80B since Russia’s invasion of Ukraine

The US Justice Department announced on Wednesday the formation of a task force to enforce sanctions and export restrictions, as well as collect luxury assets belonging to Russia's richest residents.

The administration hopes that putting the tycoons under financial duress will cause them to distance themselves from Putin and put pressure on him to end the Ukraine conflict, Bloomberg stated. 

Meanwhile, The French authorities said that a superyacht owned by a business tied to Igor Sechin, the CEO of Russian energy giant Rosneft has been seized on Thursday.

Picture Credits: Mint