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US sanctions Russia, Chinese companies for war effort support

by Kateryna Denisova May 1, 2024 11:04 PM 2 min read
Janet Yellen, U.S. Treasury Secretary, speaks at a Multilateral Development Bank roundtable during the spring meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, DC, on April 12, 2023. (Samuel Corum/Bloomberg via Getty Images)
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The U.S. imposed new sanctions on May 1 against nearly 300 companies and individuals in Russia and third countries, including Chinese companies, for aiding Moscow's war effort, the Treasury Department announced.

The U.S. Treasury Department imposed sanctions on around 200 targets, while the State Department targeted over 80. The sanctions are aimed at combating evasion and support for Russia's military-industrial base and its biological and chemical weapons programs, according to the Treasury statement.

The move came after U.S. officials' repeated warnings about Beijing's support for Moscow's military. Reuters reported in April, citing unnamed U.S. defense officials, that China is aiding Russia's war machine in Ukraine by providing machine tools, weapons technology, and satellite imagery.

"Today’s actions will further disrupt and degrade Russia’s war efforts by going after its military industrial base and the evasion networks that help supply it," U.S. Treasury Secretary Janet Yellen said.

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The sanctions include around 60 targets located in Russia, Azerbaijan, Belgium, Slovakia, Turkey, the United Arab Emirates as well as China, "that enable Russia to acquire desperately-needed technology and equipment from abroad," according to the statement.

The U.S. also targeted manufacturers and suppliers of cotton cellulose and nitrocellulose, which are key explosives chemicals that Moscow needs to keep producing gunpowder and rocket propellants, among other things. Both Russian and Chinese companies were sanctioned for being involved in trade of such materials.

Neftegazstroy and Vnipigazdobycha, two Russian-based companies, reportedly involved in natural gas-related construction projects, were also sanctioned.

"Combined, our support for Ukraine and our relentless targeting of Russia’s military capacity is giving Ukraine a critical leg-up on the battlefield,” Yellen said.

The U.S. passed a long-awaited $61 billion foreign aid package last week after months of political infighting and delays.

The Pentagon said on April 24 that it was ready to move forward with sending $1 billion of weapons to Kyiv from U.S. stockpiles, including more ammunition for HIMARS, 155 mm ammunition, air defense interceptors, and armored vehicles.

U.S. President Joe Biden announced another large-scale round of sanctions on Feb.23 targeting 500 entities in Russia ahead of the second anniversary of the full-scale invasion and following the death of Russian opposition leader Alexei Navalny.

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