The US Treasury and Department of State have imposed sanctions on around 400 companies and individuals from various countries, including China, India, and Turkey, for providing material assistance to Russia’s war efforts in Ukraine. The sanctions are aimed at punishing third-party countries that assist Russia in evading previous sanctions imposed since the invasion of Ukraine in February 2022. Among those sanctioned are companies accused of supplying Russia with advanced technology and defense firms producing military products used against Ukraine.
Additionally, diplomatic sanctions have been imposed on senior Russian Ministry of Defence officials and Chinese companies exporting dual-use goods to Russia. The US aims to degrade Russia’s ability to equip its military and prevent countries from helping the Kremlin evade sanctions. This is part of a series of thousands of sanctions imposed on Russian firms and their suppliers since the invasion.
The effectiveness of the sanctions has been questioned, with Russia still able to sell oil and gas on international markets. US officials point to growing ties between Russia and North Korea as a sign of desperation. The US has also passed aid packages for Ukraine, allowing the seizure of Russian state assets in the US for Kyiv’s benefit, and secured a $50 billion loan from the Group of Seven to support Ukraine’s fight. Interest earned from Russia’s frozen central bank assets in Europe will serve as collateral.
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