US ramps up Russia sanctions, targeting Moscow's business partners
Jan 15, 2025
The Treasury Department announced Wednesday that it is amping up its sanctions against companies and entities involved in Russia’s defense industry.
Secretary of State Antony Blinken said in a statement that the U.S. is targeting more than 150 individuals and entities supporting Russia's military and defense, affirming that the move will "further constrain Russia’s ability to wage war and thwart sanctions evasion."
Specifically, the department said it redesignated nearly 100 major entities across Russia’s financial, defense, and energy sectors as well as placing sanctions on 15 new entities.
The sanctions will impact a wide range of companies globally, but particularly in China, which the department says is "the largest supplier of dual use items and enabler of sanctions evasion in support of Russia’s war effort."
"We continue to bring available tools to bear on disrupting Russia’s illegal war against Ukraine, together with G7 and other likeminded partners," Blinken said. "We stand in solidarity with Ukrainians in defending their homeland against Russia’s illegal war of choice."
Under the sanctions, any company or entity that does business with parts of Russia’s military-industrial complex will also be at risk of penalties, a Treasury Department senior official told the Associated Press.
The new entities were labeled as participants in a sanctions evasion scheme established between Russia and China to avoid current sanctions.
“Today’s actions frustrate the Kremlin’s ability to circumvent our sanctions and get access to the goods they need to build weapons for their war of choice in Ukraine,” Deputy Treasury Secretary Wally Adeyemo said in a press release. “Today’s expansion of mandatory secondary sanctions will reduce Russia’s access to revenue and goods.”
The announcement is just one of the many moves the Biden administration has made in recent weeks before the president leaves the White House. It marks the latest decision in an effort to boost Ukraine and hinder Russia before President-elect Trump assumes office.
Removing the sanctions would require congressional notification, which could make it difficult for the Trump administration to change sanctions without drawing public criticism, according to the AP.
The Biden administration has announced numerous sanctions on various sectors of Russia’s economy, as well as on allies of Russian President Vladimir Putin, in an attempt to cut off sources of funding for its war machine.