The United States has imposed expanded sanctions on more than 200 individuals and entities that are instrumental in Russia’s war against Ukraine.
The Department of State said it is imposing sanctions on more than 90 entities and individuals engaged in sanctions evasion and those complicit in furthering Russia’s ability to wage the war.
The State Department’s sanctions target Russia’s future energy production and revenue, metals and mining sector, defense procurement, and those involved in supporting the war.
“Our actions today also target Russia’s future energy capabilities, which will limit Moscow’s ability to funnel future revenues toward its destructive aims,” U.S. Secretary of State Antony Blinken said while announcing the punitive actions.
Concurrently, the Department of the Treasury is imposing further sanctions on multiple networks used by Russia to circumvent existing U.S. sanctions.
The Treasury Department is also designating key manufacturing and other firms supporting Russia’s industrial base, as well as additional Russian financial institutions. They include seven Russia-based banks and Saint Petersburg Exchange, a public joint stock company providing access for investors to the international stock markets.
The Treasury said its Office of Foreign Assets Control (OFAC) continues to disrupt the networks and channels through which Russia attempts to sustain its beleaguered military.
With these designations, Treasury is disrupting producers, exporters, and importers of high-priority items identified by the international coalition imposing sanctions and export controls on Russia.
“Russia is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine and we will not hesitate in holding them accountable,” said Secretary of the Treasury Janet Yellen. She claimed that the global sanctions coalition has choked off Russia’s access to key inputs for its military industrial complex and has undermined the Kremlin’s ability to wage its war. “Today’s actions demonstrate our further resolve in continuing to disrupt every link of Russian military supply chain, and target outside actors who would seek to support Russia’s war effort.”
Unable to domestically produce much of the technology, equipment, and other materiel it needs to sustain and maintain its military-industrial complex, Russia has offshored that production to suppliers of other countries. Washington alleged that Russia continues to misuse its economic relationships with China, Turkey, and the United Arab Emirates, “which have become hubs for exporting, re-exporting, and transshipping to Russia foreign-made technology and equipment”.
Thirdly, the Commerce Department’s Bureau of Industry and Security (BIS) released a rule adding 12 Russian companies and one Uzbek company to the Entity List for supporting Russia’s military to develop drones. Russia is widely using unmanned aerial vehicles to launch attacks on Ukrainian cities.
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