U.S. Treasury’s Latest Sanctions on Russia: Disrupting Military Support Networks and Targeting Wealthy Associates
On September 14, the U.S. Treasury Department made a significant announcement regarding its ongoing efforts to impose New U.S. sanctions on Russia. The department disclosed that it had enacted approximately 100 new sanctions, targeting various aspects of Russia’s interests. These sanctions encompassed influential figures, economic sectors, financial institutions, and providers of technological equipment. In this article, we will delve into the details of these sanctions, Secretary of the Treasury Janet Yellen’s statements, and the impact they have on Russia’s key players and sectors.
The U.S. Treasury’s New US Sanctions
Targeting Russia’s Military Support Networks
The U.S. Treasury Department’s latest sanctions are part of its persistent pursuit to disrupt Russia’s military support networks. This strategic move aims to hinder Russian President Vladimir Putin’s access to machinery, technology, and services that are crucial for his ongoing conflict in Ukraine.
Impact on Putin’s Wealthy Associates
Secretary Janet Yellen emphasised that these measures also seek to take action against individuals and organisations benefiting from aggression and having close ties to the Russian government. The sanctions imposed on September 14 demonstrate the United States’ ability to impose significant consequences on Putin’s wealthy associates.
New US Sanctions on Influential Figures
Russian Oligarch Andrei Bokarev
Among the individuals targeted by these sanctions is Russian oligarch Andrei Bokarev. Bokarev is known for leading the prominent Russian rolling stock producer, Transmash. These sanctions are expected to have a substantial impact on his financial interests.
Another notable figure facing restrictions is Iskandar Makhmudov, a business partner of Andrei Bokarev. Makhmudov owns several metals and mining companies based in Russia. The New US sanctions extend to their family members as well.
Connections to Kremlin Figures and Organised Crime
Bokarev is known to maintain personal connections with high-ranking Kremlin figures, including Russian Defence Minister Sergei Shoigu. Furthermore, both Bokarev and Makhmudov have associations with Russian organized crime, as highlighted in the report.
Other Sanctioned Individuals
The list of sanctioned individuals from Russia’s influential circles also includes Russian Deputy Defence Minister Aleksei Krivoruchko and Mkrtich Okroyan, who serves as the chief designer and sits on the board of directors for two Russian aerospace companies.
Sanctions on Various Sectors and Entities
One of the sanctioned entities is a Finnish-based network that supplies foreign electronic products to customers in Russia. These sanctions affect the flow of critical technology into Russia.
Turkish organisations exporting items with both civilian and military applications to Russia have also faced restrictions. This move aims to curtail Russia’s access to essential goods. Prominent Russian companies engaged in manufacturing, construction, and electronics have been targeted. This includes entities playing pivotal roles in Russia’s economic landscape. The sanctions extend to financial institutions and investment firms, further tightening the financial noose around Russia’s interests.
IV. Additional Restrictions by the U.S. State Department
On the same day, September 14, the U.S. State Department imposed additional restrictions of its own. These sanctions specifically focused on more than 70 individuals and businesses involved in Russia’s energy generation, arms repair and upkeep, and technology acquisition sectors.
The U.S. Treasury Department’s announcement of approximately 100 new sanctions on Russia represents a significant escalation in its efforts to disrupt Russia’s interests. By targeting influential figures, economic sectors, financial institutions, and technology providers, the United States aims to curtail Russia’s ability to support its military endeavours, particularly in Ukraine. These sanctions also serve as a stark warning to individuals and organisations closely tied to the Russian government. As the U.S. government continues to tighten the screws on Russia, the global repercussions and responses to these measures will be closely watched.