The White House announced this Friday, February 24, an increase in sanctions intended to hit Russia’s economy hard for its invasion of Ukraine and to reduce Moscow’s access to sensitive technologies such as semiconductors.
The sanctions, which target sectors such as banking and the defense industry, will affect ” more than 200 individuals and entities, including Russian and third-country actors across Europe, Asia and the Middle East supporting Russia’s war effort “said the White House. The new sanctions – which come on top of multiple previous measures imposed over the past twelve months – will target “ a dozen Russian financial institutions, in alignment with allies and partners, as well as Russian officials and proxy authorities operating illegally in Ukraine. »
The White House has indicated that it is targeting the Russian defense and high-tech sectors, as well as the implementation of measures aimed at destroying attempts to circumvent the sanctions already in place. The US Department of Commerce will also impose export controls on nearly 90 Russian and third-country companies, including in China, “ for engaging in sanctions-busting and surrogate activities in support of the Russian defense sector “said the White House. Targeted companies will be banned from to purchase items such as semiconductorswhether manufactured in the United States or with certain U.S. technology or software overseas “.
About thirty people and companies from European countries (Switzerland, Italy, Germany, Malta and Bulgaria), accused of having helped circumvent the sanctions by supplying military equipment to Russia, are also targeted, and thus see their assets in the States States frozen.
U.S. metals sector
The Russian metals and mining sector is also in the crosshairs of economic sanctions. “ Today’s action will result in higher tariffs on more than 100 Russian metals, minerals and chemicals worth around $2.8 billion dollars for Russia. It will also significantly increase the costs of aluminum that has been melted or cast in Russia to enter the US market. “, continued the White House.
This measure will counter the damage caused to American producers by the Russian invasion, the White House pointed out, adding that these latest measures adopted against Russia were decided ” in coordination with G7 partners and allies “. The G7 nations, due to hold a virtual summit on Friday to mark the first anniversary of Russia’s invasion of Ukraine, will announce the creation of a new body known as the Enforcement Coordination Mechanism. to block attempts to circumvent existing sanctions. The body will be chaired by the United States in its first year, according to the White House.
2,500 sanction measures over the past year
” Over the past year, we have taken action with a historic coalition of international partners to degrade Russia’s military-industrial complex and reduce the revenues it uses to fund its war. “commented the US Secretary of the Treasury, Janet Yellen, quoted in the press release. Since February 2022, more than 2,500 economic sanctions actions targeting Russia have been taken by the U.S. Treasury, in coordination with U.S. allies and partners, and more than 30 countries have taken similar action.
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London, for its part, announced new sanctions prohibiting the export of all items found by Ukraine, having been used by Russia on the battlefield “. The British sanctions include officials from the Russian atomic energy giant, Rosatom, but also the CEO of Nord Stream 2, and former security official for Vladimir Putin, Mattias Warnig.
Since February 2022, more than 2,500 economic sanctions actions targeting Russia have been taken by the U.S. Treasury, in coordination with U.S. allies and partners, and more than 30 countries have taken similar action.
Poland blocks the new set of European sanctions “ too soft »
Warsaw on Friday blocked the adoption of the new series of European sanctions intended to hit the Russian economy, according to diplomatic sources in Brussels. The new package of European sanctions includes in particular new restrictions on exports to Russia for 11 billion euros, the freezing of the assets of three banks and numerous entities, including Iranian companies accused of supplying drones to Moscow. However, Poland considers in particular insufficient the proposed restrictions on imports of synthetic rubber from Russia used for tires, specified the delegations of four Member States. Polish Prime Minister Mateusz Morawiecki said on Friday that the EU’s latest proposed sanctions package against Russia was “ too soft, too weak during his visit to kyiv on the anniversary of Moscow’s invasion of Ukraine.
(With AFP)