US expands sanctions on Russia: What's new on list
Photo: US President Joe Biden (Getty Images)
The United States has expanded sanctions against Russia. This time, they affected the defense and metallurgical complexes, as well as the supply of dual-use goods, according to the US Treasury Department.
As noted in the United States, the new package covers about 400 entities. All of them are to some extent related to the Russian fuel and energy and metallurgical sectors. They also affected the financial sector and dual-use goods for Russia's military-industrial complex, which are supplied to Russia in circumvention of the sanctions.
The following companies were sanctioned:
- Ekropromstroy LLC, a subsidiary of Novatek, to which 40% of Arctic LNG-2 LLC was transferred;
- Mezhregionstroy LLC, which is building facilities for Rosneft's Vostok Oil project;
- PJSC Yakutsk Fuel and Energy Company (YTEK), responsible for the LNG Yakutia project.
The largest coal exporters from Russia are on the sanctions list:
- SDS Ugol;
- Mechel Mining Management Company;
- Stroyservice JSC;
- two subsidiaries of Rosatom.
In addition, the sanctions apply to Russian military development institutions, manufacturers of unmanned aerial vehicles and electronics, and companies servicing the needs of the Russian defense industry, along with their owners and management.
The US has also imposed sanctions on intermediaries from several countries that helped Russia evade sanctions and supplied parts for Su aircraft. These countries include the UAE, Hong Kong, Türkiye, Kazakhstan, Kyrgyzstan, and China.
The new sanctions will strengthen export controls to Russia and Belarus, restricting access to software for numerically controlled machine tools for companies in these countries.
US sanctions against Russia
US sanctions against Russia, which intensified after the invasion of Ukraine in 2022, aim to restrict Russia's economic and financial capabilities. Major Russian banks, large state-owned enterprises, and the energy and defense sectors have been targeted. Washington has frozen the assets of Russian companies and oligarchs, as well as restricted access to US financial markets.
The sanctions also affect the export of high-tech products, especially in military technology and microelectronics, significantly complicating Russia's efforts to modernize its military. Additionally, restrictions are imposed on individuals, government officials, and businesspeople involved in the aggression, including travel bans and asset freezes abroad.
As reported by RBC-Ukraine, on June 12, the US imposed new sanctions on 300 individuals and entities in Russia and other countries that assist the Kremlin's military efforts. The US Treasury Department has also focused on foreign banks that cooperate with Russian sanctioned persons and, accordingly, all foreign banks are at risk.
