U.S. Commerce expands blacklist in wider Russia sanctions
Timilehin Adejumobi
1 min read
The Biden administration added 71 entities to a trade blacklist for supporting Russia on Friday, as the Group of Seven wealthy nations announced new sanctions on Moscow over its war in Ukraine.
The U.S. Commerce Department action targets support for Russia’s military and expands the scope of export controls on Russia and Belarus. The blacklist includes 69 Russian entities, one from Armenia and one from Kyrgyzstan.
The new export controls target oil and gas projects in Russia and Belarus, Commerce said.
The actions are part of the latest round of sanctions and export controls by the U.S. and other countries in response to Russia’s invasion of Ukraine. They are designed to degrade Russia’s industrial base and its ability to sustain the war.
The new moves came as the United States and the rest of the “Group of Seven” major economies agreed to stiffen sanctions against Russia as they meet in Japan.
This report’s information was first seen on REUTERS; to read more, click this link.
