The United States and its allies announced new sanctions on Friday aimed at punishing Russia for its invasion of Ukraine, one of the harshest sanctions it has already imposed.
America targeted Russia sanctions piracy, future energy revenues and the military-industrial supply chain in Friday’s action, which imposed sanctions on more than 300 targets.
The move comes on the first day of a three-day G7 Summit in Japan and marks the latest sanctions and export controls targeting Moscow, which has targeted thousands of targets and imposed harsh sanctions on Russia on top of invasion of ukraine Last year.
US Treasury Secretary Janet Yellen said in a statement, “Today’s actions will clamp down on (Russian President Vladimir) Putin’s ability to unleash savage attacks and advance our global efforts to undermine Russian efforts to evade sanctions.” “
Treasury said in the statement that it imposed sanctions on 22 individuals and 104 entities in jurisdictions of more than 20 countries, while the State Department targeted approximately 200 individuals, entities, ships and aircraft.
The US sanctions authorization was also extended to more sectors of the Russian economy, including architecture, construction and manufacturing, allowing any individual or entity operating in those sectors to be affected by the sanctions, the Treasury said.
The Biden administration also halted exports of a wide range of consumer goods to Russia on Friday and added 71 companies to the Commerce Department’s “entity list,” which bars suppliers from selling American technology to them without obtaining a license.
Who is targeted by sanctions on Russia?
The US and Europe imposed financial sanctions on Russia shortly after the start of the war and have since steadily increased the pressure, targeting Russia’s Putin and officials close to him, the financial sector and oligarchs.
Experts say Washington could still impose harsher penalties, though — while the sanctions have clearly hurt Russia’s economy, they haven’t stopped Putin from pursuing a war that has killed thousands and Cities have been reduced to rubble.