🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Factbox-New sanctions imposed on Russia so far as G7 leaders meet

Published 05/19/2023, 01:57 PM
Updated 05/19/2023, 02:01 PM
© Reuters. FILE PHOTO: Plastic letters arranged to read "Sanctions" and solider toys are placed in front of Russia's flag colors  in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration
HG
-

By Daphne Psaledakis

WASHINGTON (Reuters) - The United States, Canada and the United Kingdom issued fresh sanctions on Russia on Friday over its invasion of Ukraine.

Here are the main sanctions, announced during a G7 summit in Japan.

U.S. TREASURY DEPARTMENT SANCTIONS

The Treasury Department imposed sanctions on 22 people and 104 entities with touchpoints in over 20 countries or jurisdictions.

It took action to prevent Russia's evasion of sanctions to attempt to acquire goods needed by its military-industrial complex, including targeting a Liechtenstein-based Russian intelligence services procurement network and Netherlands-based procurement agent, and a procurement network tied to U.S.-sanctioned Radioavtomatika LLC.

The Treasury Department also took action aimed at preventing Russia from finding new ways to acquire advanced materials, technology and military and industrial equipment, including by imposing sanctions on companies in Finland, Estonia and Poland.

In an effort to limit Russia's future extractive capabilities and energy revenue, the department targeted Russian energy educational institutions and energy-related research institutes as well as drilling and mining equipment companies.

Other actions included additional measures in relation to Russia's financial services sector and sanctions on the Foreign Intelligence Service of the Russian Federation.

U.S. sanctions authorities were also expanded to more sectors of the Russian economy, including architecture, manufacturing and construction, the Treasury said.

Additionally, the Treasury implemented a requirement for Americans to report any property in their possession or control in which Russia's Central Bank, National Wealth Fund or Ministry of Finance has an interest.

U.S. STATE DEPARTMENT SANCTIONS

The State Department also targeted almost 200 individuals, entities, vessels and aircraft and imposed sanctions on Polyus and the Russian business of its peer, Polymetal - the largest gold producers in Russia.

Secretary of State Antony Blinken said Friday's action also targeted an international network that procures components for the Russia-based entity responsible for the manufacture of the Orlan drone, which Russian forces and their proxies are using in Ukraine.

The State Department also designated two Iranian shipping companies, a port operator and a maritime service provider it said were part of deepening ties between Russia and Iran.

Washington took aim at 18 entities involved in expanding Russia's future energy production and export capacity.

Subsidiaries of Russia's state-owned nuclear energy company Rosatom were targeted, though Washington has not imposed sanctions on Rosatom itself.

The State Department also imposed sanctions on an international network tied to military-related procurement and sanctions evasion, targeted multiple entities and people in the metals and mining sector and imposed sanctions on defense industry entities, among others.

Sanctions were also imposed tied to the Wagner mercenary force, advanced technology, the deportations and transfers of Ukrainian children, Russian government officials and elites as well as grain theft.

U.S. COMMERCE DEPARTMENT ACTION

The Biden administration halted the export of wide range of consumer goods to Russia on Friday and added 71 companies to a Commerce Department's list that bars suppliers from selling them U.S. technology without a hard-to-obtain license.

The new curbs on Russia targeted items that can be used to help Russia's military, including items used in daily life like clothes dryers, snow plows and milking machines which the U.S. thinks could be repurposed to support Moscow's war machine.

The targeted companies include 69 Russian entities, one from Armenia and one from Kyrgyzstan.

The companies include aircraft repair and parts production plants, gunpowder, tractor and automobile factories, shipyards and engineering centers in Russia.

UNITED KINGDOM SANCTIONS

Britain published plans to ban imports of Russian diamonds, copper, aluminium and nickel on Friday and announced a new wave of sanctions against Russia, targeting companies connected to the alleged theft of Ukrainian grain.

Britain is sanctioning 86 individuals and entities as part of a new crackdown on what it called "shady individuals and entities" connected to the theft and resale of Ukrainian grain, something Russia has been accused of and has denied.

The sanctions also target companies connected to Russia's state-owned nuclear energy company Rosatom, and the owner of Russian Copper Company, Igor Altushkin.

© Reuters. FILE PHOTO: Plastic letters arranged to read

CANADA ACTION

Canada announced sanctions on 17 individuals and 18 entities linked to Russian companies that provide military technology and know-how to Russia's armed forces, family members of listed persons, and members of the Kremlin elite; and sanctions on 30 individuals and 8 entities involved in Russia's ongoing human rights violations, including the transfer and custody of Ukrainian children in Russia.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.