GlobalWar in Ukraine: new US sanctions against companies linked to the Russian...

War in Ukraine: new US sanctions against companies linked to the Russian war effort

“The sanctions taken today aim to further disrupt and weaken the Russian war effort by attacking its basic military industry and the circumvention networks (of existing sanctions, editor’s note) which help it to supply itself” , declared the American Secretary of the Treasury, Janet Yellen, quoted in the press release.

Among the foreign companies targeted, sixteen are Chinese or Hong Kong, most of them accused of helping Russia to supply components which are normally prohibited, but also, for two of them, for having procured the materials necessary for the production of munitions.

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The sanctions concern companies from five other countries: the United Arab Emirates, Turkey and Azerbaijan, as well as Belgium and Slovakia.

Around a hundred Russian companies, among the more than 200 also targeted, operate specifically in the defense, transport or technology sectors.

Several companies are involved in Russian chemical and biological weapons programs.

Finally, the sanctions aim to restrict the possibility of development of Russian gas and oil infrastructures, while Russia seeks to develop those which would allow it to more easily export its hydrocarbons to China in particular. These exports are currently carried out by tankers or LNG tankers, due to a lack of sufficient oil and gas pipelines to the east.

These sanctions, which also involve the American Department of State, provide in particular for freezing the assets of targeted companies or individuals present in the United States, as well as prohibiting American entities or citizens from doing business with the targets of the sanctions. .

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The people concerned are also prohibited from entering the United States.

The G7 countries as well as the European Union and several friendly countries, such as Australia and South Korea, have increased sanctions against Russia since the outbreak of the invasion of Ukraine, in February 2022.

These sanctions aim to reduce the financing capacity of the Russian war effort but also its capacity to procure critical components and materials for its equipment.

They also led to the freezing of numerous assets of key Russian leaders, business leaders close to power as well as the Russian administration, notably the Central Bank.

The latest sanctions have particularly targeted the mining sector, notably Russian aluminum, copper and nickel, the import of which into the United States and the United Kingdom is now prohibited.

Daily Global Times
Daily Global Times
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