MOSCOW (dpa-AFX) - As President Joe Biden and Group of Seven Leaders prepare to meet this week in Italy, the United States announced a sweeping set of sanctions guided by G7 commitments to intensify the pressure on Russia for its continued war against Ukraine.
Today's actions ratchet up the risk of secondary sanctions for foreign financial institutions that deal with Russia's war economy, and restrict the ability of Russian military-industrial base to take advantage of certain U.S. software and information technology services, National Security Advisor Jake Sullivan said at a news conference en route Brindisi, Italy.
The Department of State and the U.S. Department of the Treasury together target more than 300 individuals and companies both in Russia and outside. The foreign targets include firms and individuals in China, East Asia, the Middle East, Europe, Africa, Central Asia, and the Caribbean.
Companies and individuals across multiple evasion and foreign procurement networks, including that support Russia's drone production, gold laundering, and procurement of sensitive items like anti-UAV equipment, machine tools, industrial materials and microelectronics, are being targeted.
Their products and services enable Russia to sustain its war effort and evade sanctions.
The Department of Treasury is making clear that foreign banks risk being sanctioned for dealing with any entity or individual blocked under our Russia sanctions, including designated Russian banks.
Treasury and Commerce are also issuing complimentary prohibitions to restrict the ability of Russia's defense industrial base to take advantage of access to certain U.S. software or IT services. And Commerce is announcing steps to more aggressively target transshipment of U.S.-branded items to Russia, and a new measure to crackdown on diversion through shell companies.
The latest round of U.S. Sanctions aim to limit Russia's future revenue from liquefied natural gas.
The State Department is targeting more than 100 firms and individuals engaged in the development of Russia's future energy, metals, and mining production and export capacity; sanctions evasion and circumvention.
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