By Daphne Psaledakis and David Brunnstrom
WASHINGTON (Reuters) – The United States on Wednesday took fresh action targeting Russia over its invasion of Ukraine, taking aim at efforts to circumvent U.S. sanctions as Washington continues to increase pressure on Moscow in the final days of the Biden administration.
The U.S. Treasury Department in a statement said Washington was imposing fresh sanctions on almost 100 targets – including Russian banks and companies operating in Russia’s energy sector – that were previously sanctioned by the United States in a move it said increases secondary sanctions risk for critical Russian entities.
The fresh sanctions are issued under an executive order a senior Treasury official said puts in place a Congressional review notification requirement before any of the measures issued under it are lifted.
The action comes in the final days of President Joe Biden’s administration. President-elect Donald Trump returns to the White House on Jan. 20.
Washington also took action against a sanctions evasion scheme established between actors in Russia and China as well as Keremet Bank, a Kyrgyzstan-based financial institution that coordinated with Russian officials and a bank designated by the United States to circumvent sanctions, according to the statement.
“Our goal in taking these actions today is to make clear to financial institutions, but companies as well, that doing business with Russia that supports its military industrialized complex exposes you to sanctions risk yourself,” the official, speaking on condition of anonymity, told reporters.
The State Department is also issuing sanctions against more than 150 entities and individuals, the Treasury said.
(Reporting by Daphne Psaledakis and David Brunnstrom; Editing by Chizu Nomiyama)
Comments