US announces new sanctions package against Russia targeting military supplies

US announces new sanctions package against Russia targeting military supplies

July 21 () –

The United States Department of the Treasury has announced this Thursday a new package of sanctions against about 120 individuals and entities that are linked to military supplies to Russian troops in the framework of the invasion of Ukraine.

The Office of Foreign Assets Control (OFAC) designations are intended to “inhibit Russia’s access to products that support its military and war efforts, reduce Russia’s revenues in the metals sector, undermine its future energy capabilities, degrade Russia’s access to the international financial system, and deprive Russia of technology needed for its defense and technology sectors.”

Treasury Undersecretary Wally Adeyemo has stressed that these actions “represent another step” in Washington’s efforts to limit Russian military capabilities and access to battlefield supplies.

“As long as Russia continues to wage its brutal and unprovoked war against Ukraine, we will impose sanctions to deprive Russia of the technology it needs and disrupt the resupply capacity of the Russian arms industry,” he said.

The Treasury has denounced that “one of the most common tactics of Russian entities” is to use the import of technological products manufactured abroad through external intermediaries, such as through Kyrgyzstan, which has been a “frequent exporter” since War has started.

On the other hand, he has stressed the importance of “focusing” on those who facilitate the evasion of sanctions, as is the case of companies in the United Arab Emirates (UAE).

Still, it has sanctioned Russian-based companies that import technology from abroad and munitions factories based on Russian soil. It has also included financial institutions, which include a total of five Russian banks.

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Written by Editor TLN

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