US Imposes New Sanctions on Russian War Economy

The US has announced new sanctions against approximately 400 companies and individuals in Russia, Belarus, and other countries, targeting the defense industry, strategic minerals, and mining. The sanctions also aim to disrupt Russia's access to iron, steel, and coal.

Around 60 technology companies in the defense sector and financial institutions that support Russia in evading sanctions are affected. Over 100 of the affected companies are based outside of Russia, including in China and Turkey, and they will be banned from entering the US.

The sanctions are in line with commitments made by President Biden and the G7 to disrupt Russia's supply chains. They involve freezing assets and prohibiting US citizens and institutions from doing business with the sanctioned entities.

The US Department of Commerce has also announced aggressive measures to further restrict the delivery of goods manufactured in the US to Russia and Belarus. These actions are part of ongoing efforts to increase the costs for Russia's war efforts and disrupt its military supply chains.