Aug. 23 (UPI) — The U.S. Treasury Department Friday added nearly 400 people and entities to sanctions already imposed on Russia for its invasion and ongoing war against Ukraine.
The additional sanctions target Russia’s international supply chains.
The U.S. Treasury Department Friday added nearly 400 people and entities to sanctions already imposed on Russia for its invasion and ongoing war against Ukraine. The sanctions target Vladimir Putin’s military-industrial complex, international supply chains and domestic war economy. Photo by Gavriil Grigorov/EPA-EFE/Sputnik/Kremlin Pool
“Russia has turned its economy into a tool in service of the Kremlin’s military-industrial complex,” Deputy Treasury Secretary Wally Adeyemo said in a statement. “Treasury’s actions today continue to implement the commitments made by President Biden and his G7 counterparts to disrupt Russia’s military-industrial base supply chains and payment channels.”
The Treasury said its sanctions are targeting numerous transnational networks including supply networks procuring ammunition and military material for Russia.
The new sanctions target a wide constellation of individuals and entities operating Russian support networks including financial technology, ammunition procurement, various military-industrial base suppliers, jet fighter supply networks, the domestic war economy, machine tool procurement and manufacturing equipment providers.
Other sanctioned networks are helping Russian oligarchs evade sanctions and helping Russian cyber actors to evade sanctions.
According to the Treasury Department, the new sanctions also further limit Russian future metals and mining revenue, while targeting Russian gold laundering and Russian financial technology companies.
“Foreign regulators and financial institutions should be cautious about any dealings with overseas branches or subsidiaries of Russian financial institutions, including efforts to open new branches or subsidiaries of Russian financial institutions that are not themselves sanctioned,” the Treasury Department said in a statement.
The Treasury Department published a detailed list Friday of the new sanctions imposed.
The Treasury Department said the U.S. government will continue “to support Ukraine as it defends its independence and hold Russia accountable for its aggression.”