US imposes new sanctions on Russian defence industry

The US Department of the Treasury has imposed new sanctions on over 150 individuals and entities implicated in the Russian defence industry and in Russia’s efforts to circumvent existing sanctions.

Source: statement by the US Department of the Treasury, as reported by European Pravda

Details: The sanctions target third-country actors who materially support Russia’s war, Russian military procurement networks, and those who help Russia acquire machine tools, equipment, and key inputs for its defence industry.

The sanctions target entities in Türkiye, the United Arab Emirates (UAE), the People’s Republic of China (PRC), Switzerland, Singapore, Kyrgyzstan, Tajikistan and the Maldives.

Another sanctions package targets Russia-based entities "involved in the importation, production, modification, and sale of defense-related and industrial technology, UAVs, machinery, parts, inputs, and components," the US Treasury wrote. These entities include Joint Stock Company Izhevsk Electromechanical Plant Kupol, Plaz, and NPK Aerokon, alongside dozens of other firms.

The sanctions also target Expobank and Metallurg, two Russia-based commercial banks, Obyedinennaya Investitsionnaya Gruppa, a Russia-based investment company, and Signal Invest, a Russia-based financial institution, all of which enabled Russia to maintain access to the international financial system.

"Concurrently, the Department of State is imposing sanctions on over 100 entities and individuals, including those engaged in sanctions evasion in numerous third countries, complicit in furthering Russia’s ability to wage its war against Ukraine, and responsible for bolstering Russia’s future energy production and export capacity," the US Department of the Treasury wrote.

Background: 

• Earlier on Tuesday, 12 December, Canada’s Ministry of Foreign Affairs announced sanctions against 30 Russian citizens for their involvement in the fake elections held on 8-10 September 2023 in the temporarily occupied territories of Ukraine.
• Last week, the US Treasury Department announced sanctions against a network of companies linked to Belgian businessman Hans De Guiterre, who had been supplying electronics for military equipment to Russia in order to circumvent the existing sanctions.

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