The USA with a new, large sanctions package against Russia

The new sanctions were announced the day before Ukraine celebrates its independence day.

Friday’s announcement expands and reinforces a myriad of previous sanctions imposed on Russia following the 2022 invasion.

– Russia has turned its economy into a tool for the Kremlin’s military-industrial complex. The measures announced by the Treasury Department continue the commitment made by President Joe Biden and the G7 countries to weaken supply chains and payment channels, says US Deputy Treasury Secretary Wally Adeyemo.

Warns

At the same time, the US is warning countries that do business with Russia that they may incur secondary sanctions if they accept that Russian banks set up local branches to finance the flow of goods to Russia’s war machine, reports Financial Times.

This move is intended to block the detours that Russia uses to evade the consequences of existing sanctions.

The measures are currently the latest in a series of US moves to make it more difficult for Russia to import and finance products needed for the country’s war in Ukraine.

The warning is addressed to all the world’s banks and is clear that there will be consequences for them if they intentionally or unintentionally make it easier for Russia’s military industry to circumvent the sanctions.

Far reaching

The sanctions are aimed at almost 400 individuals or companies both inside and outside Russia’s borders.

– Their products and services enable Russia to continue waging war and circumvent sanctions that have previously been adopted, it says in an announcement.

Among those now affected are around 60 companies in areas such as military equipment and technology which, based in Russia, are of crucial importance for the maintenance and development of the Russian defense industry, it says.

Made in USA

The Commerce Department in Washington says it is also going “aggressively” to limit access to parts apparently manufactured in the United States that end up in Russia and Belarus.

– Today’s package of sanctions will further limit Russia’s ability to make use of illegal supply networks that have been set up only to circumvent the global mechanisms for controlling exports, says the message from the Ministry of Finance.