Q3 Earnings Alert! Plan early for this week’s stock reports with all key data in 1 placeSee list

U.S. targets 105 Russian and Chinese firms for aiding Russian military

Published 08/24/2024, 10:37 AM
Updated 08/24/2024, 10:40 AM
© Reuters. FILE PHOTO: Stacked containers and cranes are shown at the Port of Los Angeles in Los Angeles, California, U.S. November 22, 2021. REUTERS/Mike Blake/File Photo

(Reuters) - The United States on Friday added 105 Russian and Chinese firms to a trade restriction list over their alleged support of the Russian military as Washington seeks to keep up pressure on Moscow's war effort in Ukraine.

The companies -- 63 Russian and 42 Chinese as well as 18 from other countries -- were targeted for a host reasons, from sending U.S. electronics to Russian military-related parties to producing thousands of Shahed-136 drones for Russia to use in Ukraine.

© Reuters. Port of Los Angeles, November 22, 2021. REUTERS/Mike Blake

Being added to the entity list forces U.S. suppliers to get a difficult-to-obtain license before shipping to the targeted companies. Many of the firms added to the list on Friday were given a special designation that also forces overseas suppliers to get the same U.S. licenses before shipping to the targeted companies.

The moves show the Biden administration is trying to keep up pressure on the companies sustaining Moscow's war in Ukraine despite a raft of Western sanctions aimed at hobbling that effort and amid reports that restricted American technology is still reaching Russia's defense industry.

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.