Sanctions can target those who support Russia's military complex, U.S. Treasury says

"This morning, Treasury’s Office of Foreign Assets Control is issuing guidance making clear that we are willing and able to sanction people, companies, or countries that provide ammunition to Russia or support Russia’s military-industrial complex,” Adeyemo said in the remarks, released by Treasury. The Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security will also issue an alert "outlining our actions against Russia’s military-industrial complex and the risks for those providing material support for Russia’s invasion of Ukraine," he added.

The United States can impose sanctions on people, countries and companies that provide ammunition to Russia or support its military industrial complex, the U.S. Treasury Department said on Friday.

Deputy Treasury Secretary Wally Adeyemo, in a meeting of officials from 32 countries to discuss sanctions on Russia, said the department will issue guidance to make clear that Washington is willing and able to impose such a crackdown, according to prepared remarks. "This morning, Treasury’s Office of Foreign Assets Control is issuing guidance making clear that we are willing and able to sanction people, companies, or countries that provide ammunition to Russia or support Russia’s military-industrial complex,” Adeyemo said in the remarks, released by Treasury.

The Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security will also issue an alert "outlining our actions against Russia’s military-industrial complex and the risks for those providing material support for Russia’s invasion of Ukraine," he added. Washington has imposed several rafts of sanctions on Russia in response to its Feb. 24 invasion of Ukraine, which has killed or wounded thousands and reduced cities to rubble.

Asked how much more Western allies could do to increase pressure on Russia, one European finance official said, "We can extend the list of people are under sanctions. We can extend the number of goods that have export restrictions." "But I think clearly the sanctions will show their impact in terms of industrial value chains in Russia," the European official said. "The impact on the automobile sector, the aeronautic sector is quite clear."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)