US Imposes Sanctions on Chinese Companies and Russian Organizations
In the United States, a package of sanctions was adopted targeting Chinese companies providing assistance to Russia in the war in Ukraine, as well as increasing the stakes for foreign financial institutions working with Russian organizations that are under sanctions.
Sanctions Target Russia’s Financial Infrastructure
This package of sanctions also targets Russia’s financial infrastructure in order to limit the flow of money in and out of the country. Shortly after the sanctions were announced, the Moscow Exchange announced the suspension of operations with dollars and euros.
US Continues to Impose Sanctions on Russia
Since the beginning of the war, the US has imposed sanctions on more than 4000 Russian companies and individuals, attempting to disrupt the flow of money and weapons to Russia. While the sanctions have not stopped the flow of illegal goods, their aim is to hinder Russia’s access to crucial technologies and increase prices for goods.
Additional Sanctions to Thwart Individuals and Companies
Over 300 new sanctions were aimed at thwarting individuals and companies from countries helping Russia circumvent Western blocks on obtaining key technologies. The adopted measures also threaten sanctions on foreign financial institutions if they do business with any Russian organization under sanctions as the Kremlin has shifted the Russian economy towards a military path.
