US Imposes Sweeping Sanctions on Global Firms Supporting Russia's War Effort

The US has imposed extensive sanctions on hundreds of firms in Russia and other countries, accusing them of aiding Russia's war efforts and evading sanctions. Targeted sectors include technology, defense, and financial services. This move aims to disrupt Russia's military supply chains and support Ukraine's economy.

The United States implemented broad sanctions on Friday, targeting hundreds of firms across Russia, Europe, Asia, and the Middle East. These companies are accused of enabling Russia's war efforts and aiding in sanction evasion.

The Treasury Department's sanctions list includes 60 Russian-based technology and defense companies, along with financial tech firms. Companies in Turkiye, France, and Hong Kong supplying Russia-based Promtekh and an ammunition procurement network tied to Italian and Turkish nationals are also affected.

This latest action follows thousands of US sanctions imposed since Russia's invasion of Ukraine in February 2022. The effectiveness of these sanctions remains debated as Russia continues to bolster its economy through oil and gas sales.

The State Department has additionally designated individuals and companies involved in Russia's energy, metals, mining exports, and drone production, among other sectors. This move coincides with commitments made by President Biden and Group of Seven leaders to disrupt Russian military supply chains.

Treasury Deputy Secretary Wally Adeyemo emphasized the global responsibility to ensure no support flows to Russia's military-industrial complex. Recent US aid packages and international financial strategies aim to further support Ukraine's fight for survival.

(With inputs from agencies.)