WASHINGTON — The Treasury Department on Thursday leveled new sanctions on Russian know-how firms and illicit procurement networks that the nation is utilizing to evade current sanctions, increasing the Biden administration’s effort to punish Russia for its invasion of Ukraine by crippling its economic system.
The new measures mirror the problem that the United States and its allies proceed to face in imposing restrictions which were imposed to chop off Russia’s central financial institution, monetary establishments and oligarchs from the worldwide monetary system, and the necessity to disrupt Russian provide chains and efforts to hide transactions.
“Russia not only continues to violate the sovereignty of Ukraine with its unprovoked aggression, but also has escalated its attacks striking civilians and population centers,” the Treasury secretary, Janet L. Yellen, stated in a press release. “We will continue to target Putin’s war machine with sanctions from every angle until this senseless war of choice is over.”
Among the 34 organizations and people focused are Serniya and Sertal, Moscow-based firms that illicitly procure dual-use tools and know-how for Russia’s protection sector.
The Treasury Department can be imposing sanctions on a number of know-how firms that produce laptop {hardware}, software program and microelectronics which can be utilized by Russia’s protection sector. Among them is Joint Stock Company Mikron, Russia’s largest chip-maker.
Adewale Adeyemo, the deputy Treasury secretary, foreshadowed the sanctions throughout a speech on Tuesday, when he stated that Russia’s navy industrial sector can be the following to face restrictions.
“We are planning to target additional sectors that are critical to the Kremlin’s ability to operate its war machine, where a loss of access will ultimately undermine Russia’s ability to build and maintain the tools of war that rely on these inputs,” Mr. Adeyemo stated in his speech at Chatham House, a global affairs suppose tank in London. “In addition to sanctioning companies in sectors that enable the Kremlin’s malign activities, we also plan to take actions to disrupt their critical supply chains.”
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