The Biden administration is preparing new sanctions aimed at limiting Russia's access to goods that support its war machine. This was announced on Tuesday by Treasury Secretary Janet Yellen, reports UNN citing Bloomberg.
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The U.S. “will present tough new sanctions targeting those who facilitate the Kremlin's war machine, including intermediaries in third countries that supply Russia with critical materials for its military,” Yellen said in Washington.
She said sanctions would be announced as early as next week.
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According to media reports, the new restrictions will be the latest in a series of measures aimed at curbing trade in critical technologies that the Russian military used in the invasion of Ukraine. The export of most of these dual-use goods directly to Russia is banned, so the country started buying them from third countries.
Although Allied actions have stopped some shipments, Russia has found new routes for transshipment of goods, including through India, Malaysia, and Thailand.
In addition to targeting proxies in countries of concern, the U.S. is expected to propose more measures aimed at Russia's energy sector and banks, according to people familiar with the matter. Ukraine has called on partners to step up efforts to combat russia's ability to circumvent sanctions and to cut its oil revenues.
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