US sanctions 400 entities aiding Russia's war including Chinese firms
- In Reports
- 06:14 PM, Aug 24, 2024
- Myind Staff
The United States imposed sanctions on 23rd August against over 400 entities and individuals for their involvement in supporting Russia's war effort in Ukraine, according to the State Department. Among those targeted are Chinese companies that U.S. officials believe are aiding Moscow in evading Western sanctions and bolstering its military capabilities.
Washington has repeatedly warned Beijing about its support for Russia's defence industrial base and has already implemented hundreds of sanctions aimed at curbing Moscow's ability to utilise certain technologies for military purposes.
The sanctions include actions against Chinese companies involved in shipping machine tools and microelectronics to Russia, as detailed in a State Department fact sheet outlining sanctions against 190 targets.
The U.S. Treasury Department also announced it was targeting transnational networks involved in procuring ammunition and other materials for Russia, aiding Russian oligarchs and others in evading sanctions, and laundering gold for a sanctioned company.
"Russia has turned its economy into a tool in service of the Kremlin's military industrial complex," Deputy Treasury Secretary Wally Adeyemo was quoted as saying in the statement.
"Companies, financial institutions, and governments around the world need to ensure they are not supporting Russia's military-industrial supply chains."
The Biden administration also added 123 entities to its U.S. export control list, known as the Entity List, which requires suppliers to obtain licenses before shipping to the targeted companies. The latest additions, announced on Friday, include 63 entities in Russia and 42 in China, according to a notice published in the Federal Register.
Ukrainian President Volodymyr Zelenskiy thanked the U.S. for the "additional strong sanctions" in a message, opens new tab on the X social media platform, saying they would further weaken Russia's ability to "wage an aggressive war against Ukraine."
"Pressure on the aggressor must be maintained and increased constantly as long as Russia continues its aggression," Zelenskiy added.
Following its seizure of Crimea from Ukraine in 2014, Russia launched a full-scale invasion of Ukraine in February 2022, prompting a series of new U.S. economic sanctions against Moscow.
The conflict intensified on 6th August when Ukraine deployed thousands of soldiers into Russia's western Kursk region. Since then, Kyiv has reported a series of battlefield successes, though Russian forces continue to advance steadily in eastern Ukraine.
The U.S. Treasury announced sanctions on several Russian financial technology, securities, real estate lending, and other financial firms. However, it refrained from sanctioning foreign banks involved in transactions supporting Russia’s war effort. The Treasury has warned banks since December that continued involvement in Russia's war economy could result in being cut off from the dollar-based financial system.
The State Department's sanctions include measures designed to hinder Russia's energy sector, as well as actions against companies in Turkey, the United Arab Emirates, and Central Asian economies that the U.S. believes are assisting Russia in evading sanctions.
"Today's actions hit Russia where it hurts - degrading its ability to generate revenue through its energy projects and disrupting its acquisition of materiel to supply its war machine," said Aaron Forsberg, the State Department's director for economic sanctions policy and implementation.
Targets include the import-export arm of China's Dalian Machine Tool Group, which the State Department stated had supplied $4 million worth of dual-use items to Russian companies.
The Treasury also targeted over 20 firms based in Hong Kong and China that are reportedly supplying Russia's military industrial base.
The spokesperson for China's embassy in Washington, Liu Pengyu, said Beijing "firmly opposes unilateral sanctions based on 'long-arm jurisdiction'" and added that "normal trade between China and Russia should not be undermined, still less turned into an instrument to smear and contain China."
The latest U.S. sanctions include measures against companies supplying components used in the Orlan drones that Russia is deploying in Ukraine. Washington also aims to disrupt future energy projects in Russia and its shipment of liquefied natural gas. The sanctions target Russia's $21 billion Arctic LNG 2 project, which has already faced restrictions from Western sanctions limiting its access to ice-class tankers. Additionally, other companies involved in future energy projects in Russia are included in the sanctions.
The sanctions also affect companies involved in shipments, such as UAE-based White Fox Ship Management, which the U.S. alleges recently acquired four tankers for LNG transportation.
Image source: ANI
Comments