The US Treasury Department on Friday took « one of its most significant sanctions actions to date » to crack down on those aiding Moscow’s war against Ukraine, targeting Russia’s metals and mining sector, its financial institutions, its military supply chain and individuals and companies worldwide that are helping Moscow avoid existing sanctions.
The US Treasury Department on Friday took “one of its most significant sanctions actions to date” to crack down on those aiding Moscow’s war against Ukraine, targeting Russia’s metals and mining sector, its financial institutions, its military supply chain and individuals and companies worldwide that are helping Moscow avoid existing sanctions.
These latest actions by the Treasury Department are among a series of new measures announced by the Biden administration Friday that are meant to strengthen Kyiv and deter those providing support to Moscow as the war enters its second year without signs of abating.
Friday’s sweeping actions are meant to fill in gaps in existing sanctions that have been imposed over the past year of the war and are intended to impair “key revenue generating sectors in order to further degrade Russia’s economy and diminish its ability to wage war against Ukraine,” according to a White House fact sheet.
The latest tranche of Treasury Department sanctions target a total of 22 individuals and 83 entities, according to a Treasury Department news release, and were taken in coordination with the Group of 7 nations. The US State Department will also impose sanctions Friday, resulting in sanctions against a total of “over 200 individuals and entities, including both Russian and third-country actors across Europe, Asia, and the Middle East that are supporting Russia’s war effort,” according to the fact sheet.
In addition to the sanctions, the US Commerce Department on Friday “will take several export control actions, listing nearly 90 Russian and third country companies, including in China among other countries, on the Entity List for engaging in sanction evasion and backfill activities in support of Russia’s defense sector,” the fact sheet said.
