America declares new restrictions on Russia
Date
8/25/2024 6:54:59 AM
(MENAFN) The United States government has announced a significant new round of sanctions, targeting nearly 400 individuals and entities in Russia and internationally, including notable figures such as Pavel Belousov, son of Russian Defense Minister Andrey Belousov, and his wife, Yevgenya. The sanctions, announced on Friday ahead of Ukraine's Independence Day, underscore Washington's commitment to supporting Ukraine amid its ongoing conflict with Russia.
The latest measures, coordinated by the Departments of State and Treasury, extend beyond Russia to include individuals and companies in Asia, Europe, and the Middle East. This move is part of a broader strategy to disrupt Russia's military-industrial supply chains. In line with the United State’s approach of sanctioning family members of Russian officials, Pavel Belousov, who owns a consulting company, has been added to the blacklist along with his spouse.
Deputy Treasury Secretary Wally Adeyemo emphasized the need for global companies, financial institutions, and governments to avoid supporting Russia’s military efforts. The Treasury Department revealed that the sanctions target nearly a dozen distinct networks, involving over 100 individuals and entities spread across 16 jurisdictions, including China, Switzerland, Turkey, and the United Arab Emirates. Notably, 18 Hong Kong-based companies have been implicated for their connections to the Russian military sector.
In addition to the new sanctions, United States authorities have issued warnings to financial institutions worldwide to exercise caution in their dealings with any overseas branches or subsidiaries of Russian financial entities, including those that have not yet been officially sanctioned.
As a result of these sanctions, any property or assets belonging to the listed individuals are now blocked and must be reported to the United States government. Furthermore, transactions between United States citizens or foreign nationals within the United States involving these sanctioned entities are prohibited. This comprehensive approach aims to further isolate Russia economically and hinder its ability to sustain its military operations.
MENAFN25082024000045015687ID1108598154
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.