US ramps up pressure on Russia, imposes over 300 new sanctions

The US announced over 300 new sanctions against Russia’s circumvention and evasion, military-industrial supply chains, and future energy revenues.
United States, along with G7 stakeholders and other international partners, made the commitment to hold Russia accountable for the war with Ukraine at the G7 Leaders’ Summit. The sanctions are a part of implementing that commitment.

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“From the beginning of President Putin’s illegal and unprovoked war, our global coalition has focused on supporting Ukraine while degrading Russia’s ability to conduct its invasion,” Secretary of the Treasury Janet Yellen said in a statement after the new sanctions were released.
“Our collective efforts have cut Russia off from key inputs it needs to equip its military and is drastically limiting the revenue the Kremlin receives to fund its war machine,” she added.
The new wave of sanctions targets 22 individuals, 104 entities, and 20 countries or jurisdictions. They also call out actors trying to circumvent sanctions and additional economic actions taken against Russia, the channels through which Russia obtains critical technology, its future sources of energy revenue, and the country’s overall financial sector.
Additionally, the State Department recognized nearly 200 individuals, entities, vessels, and aircraft as blocked property. The Commerce Department also added 71 entities to its Entity List to stop Russia from getting goods it needs for the war with Ukraine.
In response to the new sanctions, the Russian Foreign Ministry said 500 American nationals, including former US President Barack Obama, will be banned from Russia, Reuters reported.

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