Washington’s latest sanctions announcement comes as US President Joe Biden attends the G7 summit in Italy.
The United States has imposed new sanctions on more than 300 individuals and companies suspected of supporting Russia’s war effort in Ukraine, including entities in China, South Africa, the United Arab Emirates, and Turkey.
U.S. Treasury Secretary Janet Yellen said Wednesday that the measures target the Russian government’s remaining means of obtaining supplies and equipment needed to continue the war.
“We will increase risks for financial institutions dealing with Russia’s war economy, eliminate avenues of avoidance and reduce Russia’s ability to benefit from access to foreign technology, equipment, software and IT services. “Russia continues to mortgage its future every day to maintain its unjustly chosen war against Ukraine,” Yellen said in a statement.
In remarks carried by Russia’s state-run TASS news agency, Foreign Ministry spokeswoman Maria Zakharova said the Russian government “will not allow such aggressive actions to go unresponsive.”
Targeted companies include Moscow Exchange, which operates Russia’s largest public market for stocks and foreign exchange products, United Arab Emirates-based company Redcoast Metals Trading, and Chinese company Hangzhou Kemin Intelligent. Technology and Shandong Ollie Laser Technology.
White House national security spokesman John Kirby told reporters earlier this week that the United States would “confront China’s non-market policies that have harmful global ramifications.”
China has forged close ties with Russian President Vladimir Putin since the invasion of Ukraine, but has repeatedly denied supplying arms to Russia.
Under the latest measures, the U.S. government will also expand the definition of “military industrial bases” and apply so-called secondary sanctions to foreign financial institutions that do business with sanctioned companies.
The U.S. Department of Commerce separately announced that it had blacklisted eight Hong Kong addresses in an effort to thwart shell companies believed to be diverting semiconductors to Russia.
The latest sanctions announcement came as US President Joe Biden arrived in Italy to take part in the annual G7 summit.
The summit, which brings together leaders of major economies including Britain, France, Germany and Japan, is expected to focus on ways to step up support for Ukraine and bring about a ceasefire in Gaza.
