U.S. sanctions Russia's Gazprombank and subsidiaries to curb military funding

The U.S. has imposed sanctions on Gazprombank, Russia's third largest bank, and its six foreign subsidiaries. This action aims to limit Russia's ability to fund its military amid ongoing conflict in Ukraine. In addition to Gazprombank, over 50 Russian banks and finance officials were sanctioned. These measures restrict access to U.S. financial assets and prohibit American businesses from engaging with these entities. The sanctions follow President Biden's authorization for Ukraine to use U.S. missiles against deeper Russian targets. The U.S. is also sending $275 million in new military aid to Ukraine as it continues to support the country in its fight against Russia.