US steps up Russia sanctions, placing threat of more sanctions on businesses partnering with Russia
2 months, 1 week ago

US steps up Russia sanctions, placing threat of more sanctions on businesses partnering with Russia

Associated Press  

WASHINGTON — The U.S. Treasury Department said Wednesday that it’s expanding the web of sanctions on companies and institutions supporting Russia’s war efforts in Ukraine, re-designating about 100 entities for sanctions and placing sanctions on 15 new entities. A senior Treasury Department official said that under the sanctions any company that does meaningful business with parts of Russia’s military industrial complex would also face the risk of penalties. There are also sanctions on China-based companies: Anhui Hongsheng International Trade, Qingyuan Fo Feng Leda Supply Chain Service, Heilongjiang Shunsheng Economic And Trade Development, Qingdao Hezhi Business Service, Xinjiang Financial Import And Export, Hangzhou Xianghe Trading, Shaanxi Hongrun Jinhua Trading, Fujian Xinfuwang International Trade, and Jilin Province Shunda Trading Company. The Democratic Biden administration sees recent changes in the global oil market as making it easier to crack down on Russia’s oil revenues without hurting global supplies.

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