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Treasury slaps sanctions on Russian oligarchs

Vladimir Putin walks through golden doors at the Grand Kremlin Palace.
Vladimir Putin in Grand Kremlin Palace. Photo: Mikhail Svetlov / Getty Images

The U.S. Treasury Department is sanctioning 7 Russian oligarchs and 12 companies the oligarchs own or control for their “ongoing and increasingly brazen malign” activity, a senior administration official told reporters Friday.

Why it matters: The move targets Russian President Vladimir Putin’s inner circle, including his son-in-law, and represents the toughest sanctions against Russia since Trump took office. One senior administration official said the goal is to show that “the elite are not immune for accountability for the actions of the Russian government." It comes as tensions between Russia and the West are rising — fast.