The United States on Thursday announced a new round of sanctions against companies that supply arms to Russia in the 21st month since its invasion of Ukraine, AFP reports.
In a statement, the U.S. Treasury Department announced that it is increasing sanctions against 130 individuals and entities involved in trade with Russia to allow the country to purchase “technology and equipment necessary” for Russia’s military efforts in Ukraine.
“Russia depends on individuals and entities in other countries to upgrade its equipment and continue its horrific war against Ukraine, and we will not hesitate to hold them accountable,” Treasury Secretary Janet Yellen was quoted as saying in a statement.
Ukrainian President Volodymyr Zelenskyi called the move “very strong” and “necessary”, saying that the new package of US sanctions is aimed at “critical sectors for the Russian economy”.
“Each decision regarding sanctions must work in full – so that Russia has no chance to circumvent the sanctions,” he argued.
The US Treasury Department believes that Russia benefits from its trade ties with China, Turkey and the United Arab Emirates (UAE), which have become “trading hubs for the export, re-export and transfer of foreign technology and equipment to Russia.”
However, Washington is “encouraged” by recent decisions in the UAE to try to limit trade flows to Russia.
About ten Turkish companies, twenty from the UAE and three from China were affected.
The Treasury Department is also prosecuting Russian entities and individuals engaged in trade in foreign equipment and technology, as well as research and development.
Finally, the agency is strengthening existing sanctions against Russia’s financial sector by adding seven institutions and the heads of several banks to its list.
The Treasury Department’s sanctions are accompanied by similar decisions by the Department of State against approximately one hundred individuals and entities and by the Department of Commerce (DoC) against 13 new companies.
These companies are located in Russia and Uzbekistan, are engaged in the development of military drones used in Ukraine, and will no longer have access to the necessary technologies of American origin.
As for the State Department, Russia’s energy and mining sectors are being targeted to reduce the Russian government’s ability to finance the war, as well as “all those who support the war effort,” according to a Treasury statement.
The assets of legal entities and individuals affected by all these sanctions have been frozen in the United States. These sanctions prohibit any US company or individual from having commercial or financial ties with them.
Source: Hot News
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