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US enforces new Russian sanctions on gold, defense under agreement by G7 leaders

US implements new Russian sanctions on gold, defense under agreement of G7 heads of state

The US Treasury Department said the move “hits Russia’s ability to develop weapons”. (File)

Washington:

On Tuesday, Washington announced steps to implement new sanctions on Russia under the G7 leaders’ agreement, targeting Moscow’s defense industry, raising tariffs and banning gold imports. from this country.

The US Treasury Department said in a statement the latest moves “hit the heart of Russia’s ability to develop and deploy weapons and technology used in Vladimir Putin’s brutal war of aggression.” against Ukraine”.

The sanctions target Rostec, Russia’s largest defense corporation, and other companies important to the defense industry, as well as military units and officers involved in human rights abuses in Ukraine, the Finance Ministry said.

“We once again reaffirm our commitment to work together with our partners and allies to impose additional severe sanctions in response to our fight,” said Treasury Secretary Janet Yellen. Russia against Ukraine”.

“The broad multilateral commitments and actions of the G7 members this week further sever the Russian Federation’s access to technology vital to its militaries, which will,” she said. undermine Putin’s capabilities and further hinder the fight against Ukraine”.

The ban blacklists 70 institutions and 29 individuals, freezes any assets held by the United States, and prohibits them from doing business or conducting financial transactions with U.S. institutions.

The statement by the United Aircraft Corporation (UAC) was on a list set by Washington to “undermine Russia’s ability to continue to strike Ukraine in the air”.

In addition, the US is seeking to crack down on Russians who are trying to circumvent existing sanctions by “covertly” acquiring US, Japanese and European defense components.

As part of the sanctions agreed to by the G7, the United States banned gold imports from Russia, its largest non-energy exporter, the Treasury said. But the move does not include gold already held outside Russia.

The U.S. set of actions includes visa restrictions on more than 500 military officers and individuals, including Halyna Danylchenko, the “mayor” of illegal Russian-installed Melitopol “in southeastern Ukraine, and other cities.” Rostec board member, the State Department said.

The ministry has designated a company from Uzbekistan to supply electronic components to Russia, which “emphasizes the risks of doing business with sanctioned Russian entities or individuals,” said Secretary of State Anthony Blinken. in a statement.

Washington is also raising tariffs on more than 570 groups of Russian products worth about $2.3 billion.

“These measures are carefully calibrated to impose costs on Russia, while minimizing costs for American consumers,” Blinken said.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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