Washington announced on Friday a new series of sanctions targeting 400 entities and individuals who participate directly or indirectly in the Russian war effort.
Washington on Friday announced a new series of sanctions targeting 400 entities and individuals in Russia and other countries, including about sixty defense technology companies, including “products and services that enable Russia to support its war effort” in Ukraine.
“Russia has placed its economy at the service of the Kremlin’s military-industrial complex. The Treasury Department’s decisions today aim to confirm commitments by President (Joe) Biden and his G7 colleagues to disrupt Russia’s supply chain,” said Deputy Treasury Secretary Wally Adeyemo. quoted as saying in the statement.
Sanctions against technology companies, especially in robotics and artificial intelligence
The sanctions specifically target technology companies involved in “supporting and developing the Russian defense industry,” especially those involved in the development and modernization of its arsenal, but also “automation, robotics, online surveillance, the Internet of Things and artificial intelligence (AI) They also target companies involved in the financial sector and provide software and technology solutions to the country’s banks.
Finally, it is a matter of further limiting Russian access to strategic minerals and the mining sector, especially for iron, steel and coal.
Among those targeted, around 100 are based outside Russia, mainly in China, Turkey, the United Arab Emirates (UAE) and Switzerland, and are accused of helping Russia and its companies circumvent sanctions that were already in place from the start conflict in Ukraine.
Finally, a number of research institutes in Russia are also affected, especially the research and development institute under the Russian Ministry of Defence.
Freezing of assets and market closures
These sanctions result in the freezing of assets held directly or indirectly by the persons and companies targeted in the United States, as well as the prohibition of any US person or company from doing business with the targets of these sanctions, at the risk of being sanctioned again. .
They also close the doors of the United States to all those who are targeted. Announced by the Treasury Department, they also involve the services of the Department of Commerce and the Department of Foreign Affairs.