US sanctions 398 firms in over dozen countries for aiding Russia's war
WASHINGTON, D.C.: This week, the U.S. imposed sanctions on 398 companies in Russia, India, China, and other nations, alleging they have provided products and services that support Russia’s military activities and help Moscow circumvent existing sanctions.
This latest action by the Treasury and State Department targets “third-party countries” accused of aiding Russia’s war efforts or helping it evade sanctions introduced since the invasion of Ukraine in February 2022. Among those sanctioned are 274 companies accused of supplying advanced technology to Russia, along with Russian defense and manufacturing firms that produce or modify weaponry used in Ukraine.
Additionally, the State Department issued sanctions against senior officials in Russia’s Ministry of Defense, China-based companies that export dual-use goods critical to Russia’s defense sector, and entities in Belarus that support the Russian military.
Treasury Deputy Secretary Wally Adeyemo stated that the U.S. and its allies remain “unyielding in our resolve to diminish and degrade Russia’s ability to equip its war machine.” He emphasized that efforts to undermine Russia’s access to technology and military supplies remain a priority, despite ongoing challenges.
The new sanctions are part of a broader set of thousands imposed on Russian entities and their foreign partners. Yet, the effectiveness of these measures has been debated as Russia continues to bolster its economy through oil and gas exports. Even the Biden administration acknowledges that sanctions alone may not be enough to stop the war, and experts have pointed to the growth of Russia’s economy as evidence that additional measures may be necessary.
In related developments, a senior Treasury official mentioned that Russia’s increasing reliance on North Korea highlights Moscow’s need for support. North Korea’s foreign minister recently traveled to Russia amid reports that the country has sent thousands of troops to aid Russia.
The U.S. also recently passed an aid package allowing the seizure of Russian state assets in the U.S. to support Ukraine, and the Group of Seven nations has agreed to a $50 billion loan to assist Ukraine. Interest from Russia’s $300 billion in frozen assets, mainly in Europe, will serve as collateral for this loan.