"The West started rolling out its latest package of sanctions against Russia, setting up for a long-haul effort to squeeze Russia's economy.
The Biden administration levied sanctions Friday against more than 200 additional individuals and entities, adding to the roster of more than 2,000 banks, companies, government officials and corporate officers hit by the U.S.
Washington, coordinating its action with the European Union and Group of Seven allies, largely targeted Russian companies and individuals, but also took aim at alleged procurement networks across Europe, Asia and the Middle East that Washington says are supporting Moscow's effort.
The Treasury Department added more than a dozen Russian financial institutions -- including one of its largest banks -- to its sanction rolls, targeted entities tied to Russia's defense and technology industries and expanded the sectors hit by punitive measures to include the metals and mining industries. The U.S. State, Commerce and Treasury departments also sought out scores of Russian and third-country companies and individuals, including some in China, that officials say have engaged in sanctions evasion and so-called backfilling activities in support of Russia's defense sector.
At a meeting of finance chiefs in India on Friday, Treasury Secretary Janet Yellen said: "I urge my counterparts to redouble their efforts to support Ukraine and restrict Russia's capacity."
Many of the new penalties are part of the West's effort to enforce the sanctions put in place in the past year, marking a shift toward tightening existing measures. But having rolled out the most effective measures early in 2022, officials are facing the limits of what fresh measures can accomplish, and many government officials, analysts and industry officials say there are still significant holes in the international cordon of restrictions.
The Biden administration added five Chinese firms to the Commerce Department's so-called Entity List, out of the 86 companies targeted Friday. Entity Listings, which prohibit U.S. exports without a government license, are viewed as a lighter penalty than Treasury sanctions, which ban any dealings with targets.
U.K. Foreign Secretary James Cleverly, meanwhile, said Britain would place export bans on all items Ukraine has found Russia to be using on the battlefield. The U.K. also added nearly 100 Russian individuals and entities, including officials from state-owned nuclear company Rosatom, to its sanctions list.
Late Friday, EU member states finalized a package of measures aimed at restricting more than $11 billion in Russian imports, said the Swedish rotating presidency of the EU, including dual-use goods, or products that can be used both on and off the battlefield. The EU measures also seek to ratchet up the bloc's ability to enforce existing sanctions.
Russia's Ministry of Foreign Affairs repeated its criticism Friday of the West for what it described as unbridled anti-Russian sentiment." [1]
Why sanctions are almost dead, why German economy is worse than sanctioned Russia's? Since most of the Third world did not join the sanctions.
1. World News: U.S. and Allies Issue Fresh Sanctions Against Moscow
Norman, Laurence; Duehren, Andrew; Talley, Ian. Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]. 25 Feb 2023: A.7.
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