WASHINGTON — On Wednesday, the U.S. Treasury Department revealed an expansion of sanctions targeting entities that assist Russia in its ongoing conflict in Ukraine. This new initiative involves the re-designation of approximately 100 entities already on the sanctions list and the inclusion of 15 new ones.
A senior official from the Treasury Department indicated, on the condition of anonymity, that these sanctions extend to any company engaged in significant transactions with Russia’s military industrial sector. The official emphasized that any alteration or removal of these sanctions would necessitate notifying Congress, a procedure that may complicate efforts by the forthcoming Republican administration to modify sanctions amidst public attention.
Additionally, the release highlighted that new sanctions focus on 15 companies connected to both Russia and China, which have collaborated to bypass established sanctions. Among the sanctioned Russian firms involved in this tactic are Herbarium Office Management, Atlant Torg, Sigma Partners, Tranzaktsii I Raschety, Arctur, and Paylink Limited. Furthermore, Andrei Prikhodko, the general director of Herbarium, has also been designated for sanctions.
In tandem, several China-based entities are affected, including Anhui Hongsheng International Trade, Qingyuan Fo Feng Leda Supply Chain Service, Heilongjiang Shunsheng Economic And Trade Development, Qingdao Hezhi Business Service, Xinjiang Financial Import And Export, Hangzhou Xianghe Trading, Shaanxi Hongrun Jinhua Trading, Fujian Xinfuwang International Trade, and Jilin Province Shunda Trading Company.
Additionally, Keremet Bank in Kyrgyzstan faces sanctions for collaborating with Russian officials and an American bank to evade existing restrictions.
The backdrop to these sanctions is Russia’s invasion of Ukraine, which commenced in February 2022, prompting robust sanctioning by the U.S. and its allies. In response, Russia and its partners have attempted to circumvent these financial restrictions. The Biden administration views recent shifts in the global oil market as an opportunity to intensify measures against Russia’s oil revenue without significantly impacting overall global supplies.
Following this, the Treasury Department also announced a broadening of sanctions against the Russian energy sector as part of its continued response to the conflict in Ukraine, which has persisted for nearly three years.
