US Intensifies Sanctions to Curb Russia’s Military and Economic Strength
Washington has imposed sanctions on approximately 120 entities and individuals across Russia, the United Arab Emirates, and Kyrgyzstan on Thursday, intensifying measures to restrict Moscow’s access to goods, financial capital, and funding pathways that aid its ongoing military operation in Ukraine.
The latest sanctions, led by the Treasury and State departments, are targeted at numerous Russian sectors including mining, technology, munitions, and commercial banking. Kyrgyzstan-based electronics companies and their leaders, as well as a UAE-based engineering firm exporting electronic shipments to Russia, were also included in the sanctions.
These latest measures build on the sanctions imposed by the US and other G7 nations during a summit in Japan in May. As US Secretary of State Antony Blinken noted, these unprecedented steps aim to impose costs on Russia and hold accountable those who support its illegal war against Ukraine.
“Since Russia launched its full scale invasion of Ukraine, the United States, working with our allies and partners, has taken unprecedented steps to impose costs on Russia and promote accountability for the individuals and entities who support its illegal war,” he said. “We will continue to stand with Ukraine for as long as it takes.”
Following the invasion’s first anniversary in February, American officials indicated that Russia’s metals and mining sectors, alongside measures to curtail Russia’s energy revenues through a price cap on Russian oil, would be future sanctions targets. Deputy Secretary of the Treasury Wally Adeyemo said that these actions are part of a concerted effort to limit Russia’s military abilities, its access to battlefield supplies, and its economic foundation.
“As long as Russia continues to wage its unprovoked and brutal war against Ukraine, we will impose sanctions to deprive Russia of the technology it needs and disrupt the Russian arms industry’s ability to resupply,” said Deputy Secretary of the Treasury Wally Adeyemo.
Information for this story was found via the Treasury DepartmentR. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
