Espreso. Global

US slaps fresh sanctions on Russia, targeting over 130 military technology suppliers

2 November, 2023 Thursday
21:20

The Office of Foreign Assets Control of the US Department of Treasury has announced a large-scale package of sanctions against 130 individuals and legal entities that help Russia supply technology for military production

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This was reported by the US Department of Treasury on its official website.

The US Department of Treasury has imposed restrictions on dozens of people and companies from Turkey, China, and the United Arab Emirates, through which Russia has imported technologies, equipment, and other means necessary to support and maintain its military-industrial complex.

The sanctions also targeted a network of individuals associated with Russian Arthur Petrov, who was detained in Cyprus earlier this year at the request of the United States. Petrov, according to the US investigation, organized a complex scheme to circumvent sanctions for the purchase of US-made electronic technologies for Russian companies.

A separate block of fresh sanctions imposed by the US Treasury covers dozens of Russian military-industrial companies that manufacture, import, sell and repair industrial equipment, machine tools, spare parts, and equipment for Russian companies.

In addition, the US has expanded sanctions against the Russian technology and banking sectors involved in the financing, research, development, and import of advanced technologies.

Among the latter are the Russian state joint-stock financial corporation Sistema, one of the largest Russian holding companies operating in the defense, financial and technology sectors, and its subsidiaries; Fregat LLC, one of the largest suppliers of electronic components and equipment in Russia; Optron, one of the leading Russian semiconductor manufacturers.

The St. Petersburg Stock Exchange and seven commercial banks were subject to US restrictions.

Separately, the US State Department has imposed about 100 sanctions targeting Russia's future energy production and revenues, metals and mining sector, defense procurement, as well as those involved in supporting the Russian government's military efforts and other malicious activities.

  • Next week the EU intends to announce a new package of sanctions against Russia. It will tighten restrictions on Moscow's sources of income and industry and limit the Kremlin's ability to feed its military machine.

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