The U.S. has imposed sweeping sanctions against hundreds of firms across Russia, Europe, the Middle East and Asia, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions.
Get organized and transform your home with these Insider DealsFILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. – The U.S. imposed sweeping sanctions Friday on hundreds of firms in Russia and across Europe, Asia and the Middle East, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions.
Among those sanctioned by the Treasury Department were 60 Russian-based technology and defense companies, including three Russian financial tech companies. Also sanctioned were firms in Turkey, France and Hong Kong that act as suppliers to Russia-based Promtekh, a wholesale distributor of transportation equipment, and an ammunition procurement network connected to Italian and Turkish nationals, who also face sanctions.Friday's action is the latest in a series of thousands of U.S.
Additionally, the State Department designated people and firms involved in Russia’s energy, metals and mining exports; drone production; subsidiaries of Russian state-owned nuclear energy corporation Rosatom; and people the U.S. says were involved inmade with his Group of Seven counterparts in Italy this summer to disrupt Russia's military supply chains and drive up costs for its war machine.
“Russia has turned its economy into a tool in service of the Kremlin’s military industrial complex," Treasury Deputy Secretary Wally Adeyemo said in a statement announcing the sanctions. “Companies, financial institutions, and governments around the world need to ensure they are not supporting Russia’s military-industrial supply chains.”in its fight for survival. Interest earned on profits from Russia’s $300 billion in frozen central bank assets mostly in Europe would be used as collateral.
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