Washington’s latest sanctions announcement comes as US President Joe Biden attends the G7 summit in Italy.
The United States has imposed new sanctions against more than 300 people and companies accused of aiding the Russian war effort in Ukraine, including entities in China, South Africa, the United Arab Emirates and Turkey.
US Treasury Secretary Janet Yellen said on Wednesday that the measures were aimed at Moscow’s last remaining means of obtaining materials and equipment needed to continue the war.
“We are increasing the risk for financial institutions that service Russia’s war economy, eliminating escape routes and reducing Russia’s ability to benefit from access to foreign IT technology, equipment, software and services . Every day, Russia continues to mortgage its future to continue its unjust war against Ukraine,” Yellen said in a statement.
In comments reported by Russia’s official TASS news agency, Foreign Ministry spokeswoman Maria Zakharova said Moscow “would not leave such aggressive actions unanswered.”
Targeted entities include the Moscow Stock Exchange, which operates Russia’s largest public markets for stocks and foreign exchange products, UAE-based Red Coast Metals Trading, as well as Chinese companies Hangzhou Keming Intelligent Technology and Shandong Oree Laser Technology.
White House national security spokesman John Kirby told reporters earlier in the week that Washington would “oppose China’s non-market policies that lead to harmful global spillovers.” .
China has forged closer ties with Russian President Vladimir Putin since the invasion of Ukraine, but has repeatedly denied supplying weapons to Moscow.
As part of the latest measures, Washington will also expand its definition of “military-industrial base” to apply so-called secondary sanctions to foreign financial institutions that do business with sanctioned entities.
The U.S. Commerce Department separately announced it had blacklisted eight addresses in Hong Kong in an effort to disrupt shell companies suspected of diverting semiconductors to Russia.
The announcement of the latest sanctions comes as US President Joe Biden arrives in Italy to attend the annual G7 summit.
The summit, which brings together leaders of major economies including the UK, France, Germany and Japan, is expected to focus on ways to strengthen support for Ukraine and establish a ceasefire in Gaza.
