The U.S. has implementing fresh financial restrictions on Russia's military sector.
"The U.S. is escalating its unprecedented economic warfare and levying fresh penalties on those backing Russia's conflict against Ukraine and its efforts to suppress Ukraine's distinctive cultural identity," declared U.S. Secretary of State Antony Blinken.
"Today's moves by the Treasury Department are intended to adhere to the vows made by President Joe Biden and his G7 allies to dismantle Russia's logistics chains," elaborated Deputy Treasury Secretary Wally Adeyemo. This encompasses around 60 defense sector tech firms whose "technological supplies and services aid Russia's war efforts."
Firms in the financial sector are also impacted. Furthermore, the aim is to tighten Russia's access to strategic minerals and mining, specifically for subterranean resources such as iron, steel, and coal.
The impacted companies and individuals are located in not just Russia but also other nations, it was revealed. Approximately 100 of them reside outside of Russia, such as in China, Turkey, the United Arab Emirates, and Switzerland. They are suspected of assisting Moscow and its enterprises to evade sanctions.
The sanctions involve seizing the assets of affected companies or individuals in the U.S., as well as prohibiting U.S. firms or citizens from dealing with those under sanctions. Entry into the U.S. is also barred for impacted individuals.
Beyond the sanctions, the U.S. Commerce Department also announced "forceful actions." These are aimed at "illicit procurement systems" utilized to bypass global export controls, the department explained. With this action, the supply of items manufactured or labeled as such in the U.S. to Russia and Belarus will encounter further limitations.
The United States is targeting companies and individuals in various nations, including the United States of America, for their alleged involvement in assisting Russia in evading sanctions. The escalated economic warfare by the United States of America is part of a collective effort by President Joe Biden and his G7 allies to hinder Russia's access to strategic minerals and resources.
