The US government has imposed sanctions on Russia-backed Wagner Group, a private military company spearheaded by Yevgeniy Prigozhin, one of Russian President Vladimir Putin’s closest allies.
The Treasury Department is now referring to the group as a “transnational criminal organization” and imposed sanctions on eight individuals and 16 entities, many of which are connected to the mercenary group. “As sanctions and export controls on Russia from our international coalition continue to bite, the Kremlin is desperately searching for arms and support — including through the brutal Wagner Group — to continue its unjust war against Ukraine,” said Treasury Secretary Janet Yellen.
“Today’s expanded sanctions on Wagner, as well as new sanctions on their associates and other companies enabling the Russian military complex, will further impede Putin’s ability to arm and equip his war machine,” she added.
There are approximately 50,000 individuals with links to the Wagner Group currently stationed in Ukraine, of which 40,000 are criminals that were recruited from Russian prisons. The sanctions were imposed by the US government over the group’s alleged support for Moscow’s war effort in Ukraine, as well as supposed human rights abuses in Africa, such as mass executions, rape, and child abductions.
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The sanctions imposed by the Treasury Department prevent the targeted individuals from gaining access to any of their US assets, whilst all US nationals are barred from conducting business with the sanctioned group without a special license. The Treasury Department’s sanctions also target two Chinese- and Russian-based firms focused on providing commercial satellite imagery to the Wagner Group, as well as a number of technology companies and airline firms with connections to the Russian military.
Information for this story was found via The Treasury Department and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
