U.S. Continues to Degrade Russia’s Military-Industrial Base and Target Third-Country Support with Nearly 300 New Sanctions

Breaking News ????: The U.S. Department of the Treasury has just announced a sweeping set of sanctions, totaling nearly 300, aimed at multiple entities facilitating Russia's procurement of critical technology and equipment from overseas. These sanctions, jointly imposed by both the Treasury and the Department of State, underscore a firm stance against any support provided to Russia's ongoing conflicts.

In a statement, Treasury Secretary Janet L. Yellen emphasized the gravity of the situation, noting, 'Companies that lend material support to Russia's military endeavors will face severe repercussions.' This latest round of sanctions encompasses approximately 60 targets spread across various countries, including Azerbaijan, Belgium, China, Russia, Slovakia, Turkey, and the United Arab Emirates (UAE). These entities have been instrumental in enabling Russia's access to vital technology and equipment from international sources.

Furthermore, the Department of State is imposing sanctions on over 80 additional entities and individuals involved in sanctions evasion and circumvention. This includes those connected to Russia's chemical and biological weapons programs, as well as its defense industrial base. The comprehensive nature of these measures reflects a concerted effort to disrupt illicit activities and deter future transgressions.

In a related development, the U.S. Department of Justice has initiated legal action by filing a forfeiture complaint against a set of aircraft landing gear detained at Miami International Airport. This equipment, purchased in violation of U.S. sanctions, serves as yet another example of the rigorous enforcement measures being taken.

As a consequence of these sanctions, all property and interests in property belonging to the designated persons within the United States or under U.S. control are now blocked and subject to reporting to the Office of Foreign Assets Control (OFAC). Additionally, any entities owned, directly or indirectly, by one or more blocked persons are also subject to blocking measures.

Moreover, all transactions involving designated or blocked persons, conducted by U.S. persons or within (or transiting) the United States, are prohibited unless specifically authorized by OFAC. This prohibition extends to contributions, provision of funds, goods, or services to or from any blocked person.

Foreign financial institutions engaging in significant transactions with Russia's military-industrial base now face the risk of sanctions by OFAC. The U.S. remains steadfast in its commitment to upholding international norms and ensuring accountability for those who flout them.