The United States proclaims a new package of sanctions against Russia

The United States has imposed sanctions on more than 100 entities and banned further imports of Russian gold, in line with commitments made this week by leaders of the Group of Seven, or G7, to further punish Russia for its invasion of Ukraine.

The US Treasury Department has reportedly imposed sanctions on 70 entities, many of which it says are critical to Russia’s defense industrial base, as well as 29 individuals, in an effort to hamper its ability to develop and deploy weapons. and technology.

The measure freezes the US assets of the designated individuals and prohibits Americans from dealing with them.

Targeting Russia’s defense industry will degrade Russian President Vladimir Putin’s capabilities and further hamper his war against Ukraine, which has already been plagued by low morale, broken supply chains and logistical failures,” said Secretary of State Treasure, Janet Yellen, in a statement.

Washington’s action is the latest in a series of sanctions aimed at Moscow since it began its invasion of Ukraine in February.

New sanctions were imposed on Rostec, the Russian state defense and aerospace conglomerate. The Treasury said that Rostec’s management “umbrella” includes more than 800 entities in a wide range of sectors and that all those owned 50% or more (directly or indirectly) by Rostec were blocked.

United Aircraft Corporation (UAC) was sanctioned to “weaken Russia’s ability to continue its aerial assault on Ukraine,” the Treasury said. UAC makes Russian MiG and Sukhoi fighters (planes also flown by US allies, including some NATO members) and is majority owned by Rostec.

Planes, trucks and gold

Irkut Corp, a UAC-affiliated aircraft manufacturer that builds many of the Sukhoi Su-30 fighters used by Russia in Ukraine, was incorporated, as were several of its subsidiaries and other companies in the Russian aerospace sector.

The Treasury also listed 20 entities that develop, produce and service military electronic equipment under the Rostec-owned electronics company Ruselectronics.

The US also imposed sanctions on Russia’s largest truck maker, Kamaz, alleging that its vehicles were seen transporting missiles and Russian soldiers during the Ukraine conflict.

US imports of Russian-origin gold have been completely banned. Russia produces about 10% of the gold mined in the world each year and is its largest non-energy export from the country.

Gold is a crucial asset for the Russian central bank.

“The actions of the G7 members further limit the Russian Federation’s access to technology that is critical to its armed forces,” Yellen said.

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