The U.S. Department of the Treasury announced new sanctions against Russia’s Gazprombank as President Joe Biden intensifies responses to Moscow’s invasion of Ukraine. These sanctions aim to cut off Gazprombank from the American banking system, prohibiting U.S. transactions and freezing its assets in the U.S. Additionally, sanctions were imposed on 50 smaller Russian banks. Treasury Secretary Janet Yellen stated that these actions will make it harder for the Kremlin to evade U.S. sanctions and support its military operations in Ukraine.