The State and Treasury Department announced new sanctions against firms and people from Turkey, China, and the UAE in an effort to cripple the Russian economy. Washington is waging an economic war on Moscow using blacklists and a price cap on Russian energy exports. However, the economic warfare has failed to cause significant damage to the Russian economy.
According to the State Department press release, over 200 individuals and entities were added to the blacklist. “The US is imposing further sanctions on over 200 individuals and entities in connection with Russia’s war against Ukraine,” it said. “The Department of State is imposing sanctions on over 90 entities and individuals engaged in sanctions evasion and those complicit in furthering Russia’s ability to wage its war against Ukraine. Our actions today also target Russia’s future energy capabilities, which will limit Moscow’s ability to funnel future revenues toward its destructive aims.”
The Treasury Department issued a statement saying it had issued 130 sanctions. “Today’s sanctions focus on individuals and entities abetting Russia’s unconscionable war against Ukraine by providing Russia with much-needed technology and equipment from third countries.” The Treasury press release continued, “Additionally, these actions take aim at Russia’s domestic industrial base, which is seeking to reinvent itself as the maintainer of Russia’s war machine. With these designations, Treasury is disrupting producers, exporters, and importers of nearly all of the high-priority items identified by the international coalition imposing sanctions and export controls on Russia.”
The sanctions target Turkish, Chinese, and Emirati nationals and businesses. While Washington has deemed Beijing a competitor nation, Ankara is a NATO ally, and Dubai is a critical American partner in the Middle East.
After Russia invaded Ukraine last year, Washington instituted a sweeping sanctions campaign against Moscow in an effort to cripple the Russian economy. Moscow has weathered the Western sanctions by developing new trading partners.