US places new sanctions on hundreds of entities with Russia ties
Washington steps up efforts to counter evasion of measures against Moscow in clear signal to India, Turkey and China
30 October 2024 - 21:08
byDaphne Psaledakis and Simon Lewis
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Ukrainian service members carry a coffin of soldier Andrii Mokhonko, who was killed in a fight against Russian troops in Kursk region of Russia, in Chernihiv, Ukraine, October 20 2024. Picture: REUTERS/MAKSYM KISHKA
Washington — The US imposed sanctions on hundreds of targets in fresh action against Russia on Wednesday, signalling it will continue to counter evasion of its measures imposed after Moscow’s invasion of Ukraine.
The action, taken by the Treasury and the state department, imposed sanctions on almost 400 entities and individuals from more than a dozen countries, according to statements from the two departments.
The action is the most concerted push so far against third-country evasion, a department official said. It includes sanctions on dozens of Chinese, Hong Kong and Indian companies, the most from those countries to be hit in one package so far, according to the official.
Also hit with sanctions were targets in Russia, the United Arab Emirates, Turkey, Thailand, Malaysia, Switzerland and elsewhere.
The action comes as Washington has sought to curb Russia’s evasion of the sanctions imposed after its invasion of Ukraine in February 2022, which has killed or wounded tens of thousands of people and reduced cities to rubble.
“This should send a serious message to both the governments and the private sectors of these countries that the US government is committed to countering the evasion of our sanctions against Russia and to continue putting pressure on Russia to end its war in Ukraine,” said the official, who spoke condition of anonymity.
The US Treasury imposed sanctions on 274 targets, while the state department designated more than 120 and the commerce department added 40 companies and research institutions to a trade restriction list for their alleged support of the Russian military.
“The US and our allies will continue to take decisive action across the globe to stop the flow of critical tools and technologies that Russia needs to wage its illegal and immoral war against Ukraine,” deputy treasury secretary Wally Adeyemo said in a statement.
The Russian, Chinese and Indian embassies in Washington did not immediately respond to requests for comment. Turkey’s government also did not immediately respond to a request for comment.
The US has repeatedly warned against supplying Russia with so-called common high priority items — advanced components including microelectronics deemed by the US and EU as likely to be used for Russia’s war in Ukraine.
The state department official said there has been an increase in the export of such goods from India to Russia, as well as increased interest in taking action against the companies facilitating such activity.
A senior administration official said Wednesday’s action was a signal the US would take action against Indian companies if progress isn’t made through communication.
“With India, we have been very direct and blunt with them about the concerns we have about what we see as sort of emerging trends in that country that we want to stop before they get too far down the road,” said the official, speaking on condition of anonymity.
Futrevo, based in India, was among the companies targeted by the state department, which accused it of being involved in the supply of high-priority items to the manufacturer of Orlan drones based in Russia.
The Treasury also targeted Shreya Life Sciences, which it said has sent hundreds of shipments of US-trademarked technology to Russia since 2023, totalling tens of millions of dollars.
China
A second senior State Department official said in an interview on Tuesday that more than 70% of the high-priority goods getting to Russia was from China, more than an estimated $22bn worth since the start of the war.
“That’s over 13 times the next largest supplier,” the official said, which at end of last year was Turkey.
Among those targeted on Wednesday were companies based in Hong Kong and Chinese companies involved in the shipping of tens of millions of dollars worth of high-priority items to companies or end users based in Russia, the state and treasury departments said.
The US also took action against various entities supporting Russia’s Arctic LNG 2 project, which is 60% owned by Novatek, and was to become Russia’s largest liquefied natural gas plant.
Novatek has been forced to scale back Arctic LNG 2 — which was planned to reach an eventual output of 19.8-million tonnes a year — a raft of US sanctions starting in 2023 with additional measures in August and September.
But the US held back from using an executive order signed by President Joe Biden last year that threatened penalties for financial institutions that help Russia circumvent sanctions. The senior administration official said banking sectors had taken notice of the authority and moved towards compliance.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
US places new sanctions on hundreds of entities with Russia ties
Washington steps up efforts to counter evasion of measures against Moscow in clear signal to India, Turkey and China
Washington — The US imposed sanctions on hundreds of targets in fresh action against Russia on Wednesday, signalling it will continue to counter evasion of its measures imposed after Moscow’s invasion of Ukraine.
The action, taken by the Treasury and the state department, imposed sanctions on almost 400 entities and individuals from more than a dozen countries, according to statements from the two departments.
The action is the most concerted push so far against third-country evasion, a department official said. It includes sanctions on dozens of Chinese, Hong Kong and Indian companies, the most from those countries to be hit in one package so far, according to the official.
Also hit with sanctions were targets in Russia, the United Arab Emirates, Turkey, Thailand, Malaysia, Switzerland and elsewhere.
The action comes as Washington has sought to curb Russia’s evasion of the sanctions imposed after its invasion of Ukraine in February 2022, which has killed or wounded tens of thousands of people and reduced cities to rubble.
“This should send a serious message to both the governments and the private sectors of these countries that the US government is committed to countering the evasion of our sanctions against Russia and to continue putting pressure on Russia to end its war in Ukraine,” said the official, who spoke condition of anonymity.
The US Treasury imposed sanctions on 274 targets, while the state department designated more than 120 and the commerce department added 40 companies and research institutions to a trade restriction list for their alleged support of the Russian military.
“The US and our allies will continue to take decisive action across the globe to stop the flow of critical tools and technologies that Russia needs to wage its illegal and immoral war against Ukraine,” deputy treasury secretary Wally Adeyemo said in a statement.
The Russian, Chinese and Indian embassies in Washington did not immediately respond to requests for comment. Turkey’s government also did not immediately respond to a request for comment.
North Korea and Russia send political shock waves with Ukraine war moves
The US has repeatedly warned against supplying Russia with so-called common high priority items — advanced components including microelectronics deemed by the US and EU as likely to be used for Russia’s war in Ukraine.
The state department official said there has been an increase in the export of such goods from India to Russia, as well as increased interest in taking action against the companies facilitating such activity.
A senior administration official said Wednesday’s action was a signal the US would take action against Indian companies if progress isn’t made through communication.
“With India, we have been very direct and blunt with them about the concerns we have about what we see as sort of emerging trends in that country that we want to stop before they get too far down the road,” said the official, speaking on condition of anonymity.
Futrevo, based in India, was among the companies targeted by the state department, which accused it of being involved in the supply of high-priority items to the manufacturer of Orlan drones based in Russia.
The Treasury also targeted Shreya Life Sciences, which it said has sent hundreds of shipments of US-trademarked technology to Russia since 2023, totalling tens of millions of dollars.
China
A second senior State Department official said in an interview on Tuesday that more than 70% of the high-priority goods getting to Russia was from China, more than an estimated $22bn worth since the start of the war.
“That’s over 13 times the next largest supplier,” the official said, which at end of last year was Turkey.
Among those targeted on Wednesday were companies based in Hong Kong and Chinese companies involved in the shipping of tens of millions of dollars worth of high-priority items to companies or end users based in Russia, the state and treasury departments said.
The US also took action against various entities supporting Russia’s Arctic LNG 2 project, which is 60% owned by Novatek, and was to become Russia’s largest liquefied natural gas plant.
Novatek has been forced to scale back Arctic LNG 2 — which was planned to reach an eventual output of 19.8-million tonnes a year — a raft of US sanctions starting in 2023 with additional measures in August and September.
But the US held back from using an executive order signed by President Joe Biden last year that threatened penalties for financial institutions that help Russia circumvent sanctions. The senior administration official said banking sectors had taken notice of the authority and moved towards compliance.
Reuters
Georgia and Moldova votes show challenges of EU enlargement push
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
SA and Ukraine visa waiver on hold ‘for more consultations’
North Korean soldiers are in Russia’s Kursk, says Nato chief Mark Rutte
SHAWN HAGEDORN: A Trump win is likely to have an effect on SA trade
Russia to contest Finnish asset seizure in legal battle with Ukraine’s Naftogaz
EMMA LOUISE POWELL: Prioritising SA’s national interest — a review of the Brics ...
Putin warns of Middle East conflagration as Xi calls for end to Ukraine war
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.