A new round of sanctions announced by the Treasury Department continues the agency’s efforts to crack down on entities and individuals supporting Russia from outside the country.
Countries including China, Turkey, the United Arab Emirates, Pakistan, Switzerland, Singapore, the Kyrgyz Republic, the Maldives, and Tajikistan were represented among the more than 150 new designations implemented by the Office of Foreign Assets Control (OFAC) on Tuesday. The entities and individuals sanctioned were found to be supporting Russia’s military procurement networks, along with the country’s efforts to acquire machine tools, equipment, and key inputs.
“Our sanctions today continue to tighten the vise on willing third-country suppliers and networks providing Russia the inputs it desperately needs to ramp up and sustain its military industrial base,” said Treasury Secretary Janet Yellen in a press release.
OFAC also announced new sanctions targeting Russia-based entities involved in the importation, production, modification, and sale of defense-related and industrial technology, as well as the designation of four new financial institutions based in the country.
The United States and its international counterparts have focused their recent sanction efforts on Russia’s technology supply chain and access to global financial markets.
Also Tuesday, the U.S. State Department announced the designation of more than 100 individuals and entities targeting Russia’s future energy export and production capabilities, metals and mining sector, and sanctions evasion networks.
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