US announces new sanctions on Russian mine sector on Ukraine war anniversary
Russia's metals and mining sector is among those targeted in one of the US Treasury Department's most significant sanctions actions to date
The US announced a new round of sanctions on Russian firms, banks, manufacturers and people on Friday, aiming them at entities that helped Russia evade sanctions earlier in the year-old war against Ukraine.
Russia's metals and mining sector is among those targeted in one of the US Treasury Department's most significant sanctions actions to date, according to the agency.
The action, taken in coordination with Group of Seven allies, seeks to punish 250 people and firms, puts financial blocks on banks, arms dealers and technology companies tied to weapons production, and goes after alleged sanctions evaders in countries from the United Arab Emirates to Switzerland.
On Friday morning she told senior Russian officials attending meetings that their continued work for the Kremlin makes them complicit in Putin's atrocities.
The sanctions come after the White House announced early Friday morning that the Pentagon would commit $2 billion for more rounds of ammunition and a variety of small, high-tech drones into the fight against Russia.
The State and Commerce departments and the Office of the US Trade Representative will also issue plans Friday to increase pressure on Russia.
These steps increase tariffs on Russian products and add nearly 90 Russian and third-country companies, including from China, to a list of identified sanctions evaders.
Named in Friday's sanctions package are a dozen financial institutions, including Russia's largest non-state public bank, importers of microelectronics and producers of carbon fibre, a key material for defence systems.
The package names more than 30 people and firms allegedly connected to Russia's sanctions evasion efforts.
Among them: Swiss-Italian businessman Walter Moretti and his businesses; Nurmurad Kurbanov, a Russian-Turkmen arms dealer who is alleged to have represented Russian and Belarusian defence firms abroad; and Russian businessman Aleksandr Yevgenyevich Udodov, the former brother-in-law of Russian Prime Minister Mikhail Mishustin.
More than 30 countries representing more than half the world's economy have already imposed unprecedented sanctions on the Russian economy, making it the most sanctioned nation in the world.
They have imposed price caps on Russian oil and diesel, frozen Russian Central Bank funds and restricted access to SWIFT, the dominant system for global financial transactions.
The West has directly sanctioned roughly 2,500 Russian firms, government officials, oligarchs and their families.
The sanctions are depriving them of access to their American bank accounts and financial markets, preventing them from doing business with Americans and travelling to the US, and more.
After a year, the West's export controls and financial sanctions appear to be gradually eroding Russia's industrial capacity, even as its oil and other energy exports last year enabled it to keep funding a catastrophic war.
