The United States and the European Union have imposed new sanctions against Russia

One year after the Russian invasion of Ukraine, The United States on Friday announced a new round of sanctions against businesses, banks, manufactures and individuals, including entities that helped Russia evade past sanctions.

The Russian metallurgical and mining sectors are among the targets of the “the most significant sanctions to date” applied by the Treasury Department.

The measure, taken in coordination with Group of Seven allies, targets 250 individuals and businesses, imposes financial blockades on banks, arms dealers and technology companies linked to arms production. It also targets suspected sanctions evaders in various countries, from the United Arab Emirates to Switzerland.

“Our sanctions have both short-term and long-term impacts, which translate into Russia’s difficulties in resupply in weapons and in its isolated economy“, reports in a press release the American Secretary of the Treasury, Janet Yellen. “Our steps taken today with our G7 partners show that we will be with Ukraine for as long as it takes,” he added.

Yellen attends the G20 finance ministers meeting in Bangalore, India. He told senior Russian officials at Friday’s meetings that “continuing your work for the Kremlin makes you complicit in Putin’s atrocities.”

“They are responsible for the loss of lives and livelihoods in Ukraine and the damage caused around the worldhe stated.

The White House announced on Friday that the Pentagon would provide $2 billion worth of ammo and a variety of small drones with advanced technology to fight against Russia.

Friday’s sanctions package names a dozen financial institutions, including Russia’s largest private bank, electronics importers and producers of carbon fiber, a crucial material for defense systems.

The dossier names about 30 people and companies allegedly linked to the circumvention of the sanctions. He mentions among others the Italian-Swiss businessman Walter Moretti and his companies; Nurmurad Kurbanov, a Russian-Turkmen arms dealer, alleged representative of Russian and Belarusian defense companies abroad; and Russian businessman Aleksandr Yevgenyevich Udodov, former brother-in-law of Russian Prime Minister Mikhail Mishustin.

EU adopts tenth round of sanctions

The Member States of the European Union reached an “in extremis” agreement on Friday to adopt the tenth round of sanctions against Russia for the military invasion of Ukraine, a package will have an impact of 11 billion euros, according to calculations by the European Commission.

“Together, EU member states have imposed the toughest and most extensive sanctions ever to help Kiev win the war. The EU stands united with Ukraine and the Ukrainian people. We will continue to support Ukraine as long as necessary“, underlined the Swedish Presidency of the Council of the EU on Twitter.

With this new series of sanctions, the Twenty-Seven are stepping up their pressure against the Kremlin and its accomplices with a package that comes on the first anniversary of the invasion, as the EU had proposed to respond to Moscow’s new offensive. The new batch includes restrictions on exports of key European technological elements for the functioning of the Russian military and is also directed against Iran for its support for Russia in the context of the war.

The packet, agreed two hours before the end of the deadlineincludes the veto on the import of Russian industrial products such as asphalt or synthetic rubber, an element that has focused discussions in recent days before the divisions within the EU for the authorized quota or the transition period for enforce the import ban.

In addition, the bloc is stepping forward with exports of key resources for Russian industrial production such as weapons, trucks, agricultural and forestry vehicles or drones, all of which can be used for Russian military logistics in Ukraine.

As part of the tenth package, the EU adds around 100 individuals and entities to its “blacklist”, such as military and political commanders, as well as propagandists and disinformation makers about the Russian invasion from Ukraine.

The new restrictions emphasize the phenomenon of sanctions evasion and there will be increased scrutiny at Member State level to control seized assets and with measures to prevent sanctions evasion.

(With information from AP and Europa Press)

Continue reading: