US imposes financial sanctions on top Russian oil and gas investors

The Treasury Department has announced financial sanctions on four members of Russia’s Alfa Group board, one of the country’s largest private consortiums with a heavy focus on oil and gas, amid Russia's invasion of Ukraine. 

“Wealthy Russian elites should disabuse themselves of the notion that they can operate business as usual while the Kremlin wages war against the Ukrainian people,” said Deputy Treasury Secretary Wally Adeyemo, according to the Associated Press. “Our international coalition will continue to hold accountable those enabling the unjustified and unprovoked invasion of Ukraine."

The sanctions were applied to Mikhail Maratovich Fridman, Petr Olegovich Aven, Alexey Viktorovich Kuzmichev and German Borisovich Khan, who are already sanctioned by the European Union, United Kingdom and others.

Countries have banded together since the invasion with over 300 sanctions to try to financially cripple Russia into surrendering.

However, statistics from Russia released Friday indicated the county's economy is growing, with a year-to-year increase in its Gross Domestic Product of  4.9%.

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