US enacts new package of sanctions on Russia flat-out recalibrating its economy for war

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U.S Department of the Treasury has issued new sanctions under G7 commitments to limit Russia’s options when it comes to financing its military industrial base.

The announcement was made on the official website.

The sanctions are aimed at more than 300 individuals and entities in Russia and around the world that provide products and services Russia is able to use in order to strenghten its war machine.

“Russia’s war economy is deeply isolated from the international financial system, leaving the Kremlin’s military desperate for access to the outside world. Today’s actions strike at their remaining avenues for international materials and equipment, including their reliance on critical supplies from third countries. We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software, and IT services. Every day, Russia continues to mortgage its future to sustain its unjust war of choice against Ukraine,” stated Secretary of the Treasury Janet L. Yellen.

In addition, Treasury enacts sanctions on more than a dozen transnational networks laundering gold for a designated Russian gold producer, contributinh to Russia’s production of unmanned aerial vehicles, and purchasing materials for Russia’s chemical and biological weapons program, anti-UAV equipment, machine tools, industrial machinery, and microelectronics.

Some of the sanctions are implemented particularly by the Department of State to curb Russia’s future energy revenues, mostly from liquefied natural gas. Also, the Department is targeting “malign authorities and elites” that have been conducting the deportation of Ukrainian children.

Meanwhile, the European Union can’t yet agree on the new sanctions package against Russia.

“New attempt on Friday evening. Surprisingly, it’s Germany and not Hungary which is the biggest obstacle currently,” stated Rikard Jozwiak, an editor for Radio Free Europe/Radio Liberty.

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