US imposes sanctions on hundreds of firms supplying Russia’s military

US Imposes Sweeping Sanctions on Russian Firms and Their Suppliers Worldwide

The United States has taken decisive action by imposing sweeping sanctions on hundreds of firms in Russia, Europe, Asia, and the Middle East. These sanctions target companies accused of providing products and services that support Russia’s war efforts and help them evade existing sanctions.

Among the firms sanctioned are technology and defense companies based in Russia, as well as financial tech companies. Additionally, entities in Turkey, France, and Hong Kong that supply transportation equipment to Russia-based Promtekh are also included. An ammunition procurement network involving Italian and Turkish nationals has also been sanctioned.

These sanctions come amidst a series of actions taken by the US since Russia’s invasion of Ukraine in February 2022. Despite ongoing questions about their effectiveness, the US continues to ramp up pressure on Russian entities to disrupt their military supply chains and increase the costs of war.

The State Department has also targeted individuals and firms involved in Russia’s energy, metals, and mining sectors, drone production, and subsidiaries of the Russian state-owned nuclear energy corporation Rosatom. The announcement coincides with Ukrainian forces making advances in Russia’s Kursk region ahead of Ukraine’s independence day.

These recent actions align with President Joe Biden’s commitments to disrupt Russia’s military supply chains, and Treasury Deputy Secretary Wally Adeyemo emphasized the importance of global entities avoiding support for Russia’s military-industrial complex.

Earlier this year, the US passed an aid package for Ukraine allowing the seizure of Russian state assets in the US for Kyiv’s benefit. Additionally, the Group of Seven pledged a $50 billion loan to support Ukraine, using interest earned on profits from Russia’s frozen central bank assets in Europe as collateral.