US unveils sweeping sanctions targeting Russia over Ukraine war

WASHINGTON: The United States announced a raft of new sanctions Wednesday aimed at constraining Moscow´s war in Ukraine while raising the stakes for foreign banks that still deal with Russia, ahead of G7 talks.

The Treasury Department and State Department´s sanctions hit more than 300 targets, including entities in Russia and in countries like China, Turkey and the United Arab Emirates.

Those designated include the Moscow Exchange and several subsidiaries, a move set to complicate billions of dollars in transactions, as well as entities involved in liquefied natural gas (LNG) projects.

“Today´s actions strike at their remaining avenues for international materials and equipment, including their reliance on critical supplies from third countries,” said Treasury Secretary Janet Yellen.

“We are increasing the risk for financial institutions dealing with Russia´s war economy and eliminating paths for evasion, and diminishing Russia´s ability to benefit from access to foreign technology, equipment, software, and IT services,” she added.

Secretary of State Antony Blinken said separately that the United States “remains concerned by the scale and breadth of exports” from China supplying Moscow´s military industry.