Current:Home > InvestThe US sanctions more foreign firms in a bid to choke off Russia’s supplies for its war in Ukraine -Elite Financial Minds
The US sanctions more foreign firms in a bid to choke off Russia’s supplies for its war in Ukraine
View
Date:2025-04-21 03:46:22
WASHINGTON (AP) — The United States on Thursday imposed a new round of sanctions on 130 firms and people from Turkey, China and the United Arab Emirates in an effort to choke off Russia’s access to tools and equipment that support its invasion of Ukraine.
The sanctions imposed by Treasury Department’s Office of Foreign Assets Control target third-party firms and people alleged to assist Moscow in procuring equipment needed on the battlefield, including suppliers and shippers. In addition, the State Department imposed diplomatic sanctions targeting Russian energy production and its metals and mining sector.
Thursday’s sanctions targets include Turkish national Berk Turken and his firms, which are alleged to have ties to Russian intelligence. The Treasury Department said Turken’s network arranged payments and shipping details designed to bypass sanctions and move goods from Turkey to Russia.
A series of United Arab Emirates firms alleged to have shipped aviation equipment, machines for data reception and more also were sanctioned. And UAE-based ARX Financial Engineering Ltd. was sanctioned for allegedly being involved in finding ways for Russian rubles to be sent from sanctioned Russian bank VTB Bank and converted to U.S. dollars.
Turken and a representative from ARX were not immediately available for comment on Thursday.
Treasury Secretary Janet Yellen said Russia “is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine and we will not hesitate in holding them accountable.”
“Today’s actions demonstrate our further resolve in continuing to disrupt every link of Russian military supply chain, and target outside actors who would seek to support Russia’s war effort,” she said in a statement.
The latest sanctions build on the thousands of financial penalties imposed on Russian infrastructure and its officials, banks and oligarchs.
Along with imposing individual sanctions, the U.S. and allies have frozen Russian Central Bank funds, restricted Russian banks’ access to SWIFT — the dominant system for global financial transactions — and imposed a $60-per-barrel price cap on Russian oil and diesel.
And after nearly two years of war, the allied nations are still aiming at new targets for financial penalties that block, freeze and seize access to international funds.
Russian President Vladimir Putin asserted the attack on Ukraine was needed to protect civilians in eastern Ukraine — a false claim the U.S. had predicted he would make as a pretext for an invasion. He accused the U.S. and its allies of ignoring Russia’s demand to prevent Ukraine from joining NATO and offer Moscow security guarantees.
veryGood! (314)
Related
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Florence Welch joins Taylor Swift on stage in Wembley
- Judge rejects GOP call to give Wisconsin youth prison counselors more freedom to punish inmates
- The Meaning Behind the Date Jennifer Lopez Filed for Divorce From Ben Affleck
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Mayim Bialik, other celebs are doing hyperbaric oxygen therapy. What is it?
- Some of Arizona’s Most Valuable Water Could Soon Hit the Market
- Stock market today: Wall Street slips and breaks an 8-day winning streak
- The Best Stocking Stuffers Under $25
- 2-year-old killed by tram on Maryland boardwalk
Ranking
- Why members of two of EPA's influential science advisory committees were let go
- Bachelor Nation's Rachel Lindsay Shares Biggest Lesson Amid Bryan Abasolo Divorce
- Heat dome moves into Texas with record highs expected
- Stock market today: Wall Street slips and breaks an 8-day winning streak
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- Warriors legend, Basketball Hall of Famer, Al Attles dies at 87
- Long recovery underway after deadly and destructive floods ravage Connecticut, New York
- Olivia Rodrigo sleeps 13 hours a night on Guts World Tour. Is too much sleep bad for you?
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Nebraska man accepts plea deal in case of an active shooter drill that prosecutors say went too far
Chipotle brings back IQ test giving away more than $1 million in free burritos, BOGO deals
James Taylor addresses scrapped performance at DNC 2024: 'Sorry to disappoint'
DoorDash steps up driver ID checks after traffic safety complaints
Warriors Hall of Famer Al Attles, one of NBA’s first Black head coaches, dies at 87
Bachelor Nation's Rachel Recchia Details Health Battle While Addressing Plastic Surgery Rumors
Some Florida counties had difficulty reporting primary election results to the public, officials say