Washington on Friday announced a new set of sanctions against 400 entities and individuals in Russia and elsewhere, including some 60 defense technology companies, including “products and services that enable Russia to support its war effort” in Ukraine.
“Russia has put its economy at the service of the Kremlin’s military-industrial complex. Today’s Treasury actions are intended to confirm the commitments made by President (Joe) Biden and his G7 counterparts to disrupt Russia’s supply chains,” Treasury Deputy Secretary Wally Adeyemo was quoted as saying in the statement.
Sanctions against technology companies, particularly in robotics and artificial intelligence
The sanctions target in particular technology companies involved in “supporting and developing the Russian defence industry”, in particular those involved in the development and modernisation of its arsenal, but also “automation, robotics, online surveillance, the Internet of Things and artificial intelligence (AI). They also target companies involved in the financial sector and providing software and technology solutions to the country’s banks.
Finally, it is about further limiting Russia’s access to strategic minerals and the mining sector, particularly iron, steel and coal.
Among the targets, around 100 are based outside Russia, mainly in China, Turkey, the United Arab Emirates (UAE) and Switzerland, and are accused of helping Russia and its companies circumvent sanctions that were already in force since the start of the conflict in Ukraine.
Finally, several Russian research institutes are also affected, in particular the Research and Development Institute of the Russian Ministry of Defense.
Asset freezes and market closures
These sanctions result in the freezing of assets held directly or indirectly by the persons and companies targeted by these sanctions in the United States, as well as the prohibition of any US person or company from dealing with the targets of these sanctions, at the risk of being sanctioned in turn.
They also close the doors of the United States to all recipients. Announced by the Treasury, they also involve the services of the Department of Commerce and the Department of State.
Source: BFM TV
