U.S. Sanctions Over 400 Entities For Supporting Russia’s Military-based Supply Chains Against Ukraine

The United States has increased its sanctions against Russia by targeting over 400 individuals and companies across Central Asia, China, Russia, Turkey and the UAE.

The action is intended to weaken Russia’s war efforts in Ukraine and disrupt its international supply chains.

The recent sanctions are aimed at entities that support Russia’s military-industrial base and evade Western sanctions. The entities have been targeted to assist Russia in evading sanctions and strengthening its military capabilities.

The sanctions impact companies that ship machine tools and microelectronics to Russia.

Wally Adeyemo, Deputy Treasury Secretary, highlighted the vast extent of these sanctions, stating that Russia has transformed its economy into a tool in service of the Kremlin’s military-industrial complex.

The sanctions target transnational networks that purchase weapons and military equipment for Russia, escape sanctions, and launder gold for sanctioned Russian firms. They also target financial technology, securities, real estate loans, and other Russian financial companies.

Additionally, 123 entities, comprising 42 Chinese and 63 Russian entities, have been added to the U.S. export control list, mandating permits for supplies transported to these companies.

Ukrainian President Volodymyr Zelenskiy applauded the measures, describing them as a crucial step toward reducing Russia’s ability to carry out its war against Ukraine. He urged that pressure on Russia be maintained and increased.

The sanctions also target Russia’s energy sector, the Arctic LNG 2 project, and other companies involved in future energy projects in Russia. It involves companies like UAE-based White Fox Ship Management, which recently purchased tankers to transport liquefied natural gas (LNG).

The actions are intended to disrupt future revenues from Russia’s energy projects.

The United States has also imposed sanctions on firms supplying components for Orlan drones used by Russia in Ukraine. The State Department believes these sanctions will further weaken Russia’s military capabilities and limit its future revenue sources.

In response, China’s embassy in Washington criticized the measures, claiming that regular trade between China and Russia should not be harmed by “unilateral sanctions based on long-arm jurisdiction.”

The Treasury Department warned that foreign banks who continue to conduct transactions with Russia’s war economy may face restrictions from the dollar-based financial system.

The U.S. government remains committed to supporting Ukraine and holding Russia accountable for its actions.

Reference: U.S. Department of Treasury

U.S. Sanctions Over 400 Entities For Supporting Russia’s Military-based Supply Chains Against Ukraine appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News