USA deals blow to Russia and China simultaneously
Three American departments - State, Treasury, and Commerce - have come to an agreement on sanctions. This will affect over 200 Russian entities across the arms industry and other key economic sectors. But that's not where it ends. It will also extend to companies within China, the UAE, and Türkiye.
5:36 PM EDT, November 2, 2023
The Department of the Treasury issued a statement where it announced the expansion of its sanctions list by an additional 130 positions. These new restrictions are designed to counter attempts to transition the Russian industry towards war production and efforts to evade present limitations.
New US sanctions introduced
Hence, the newly implemented Treasury Department sanctions will impact over 40 Russian companies that produce and import industrial tools, such as 3D printers, for example. This regime is also levied on technology companies involved in arms production, as well as financial institutions and banks that support the arms industry.
Furthermore, companies from Türkiye, the United Arab Emirates, and China have also been included on the sanctions list. The reason is straightforward: these companies are allegedly involved in providing the Russian arms industry with electronic components and other technologies that are subject to U.S. export controls, in conjunction with circumventing financial sanctions.
