The Biden administration is preparing fresh sanctions aimed at restricting Russia’s access to goods that sustain its military machine, Treasury Secretary Janet Yellen said Tuesday, Report informs via Bloomberg.
The US will “unveil strong new sanctions targeting those facilitating the Kremlin’s war machine, including intermediaries in third countries that are supplying Russia with critical inputs for its military,” Yellen said in Washington.
She said the sanctions would be announced as soon as next week.
The new restrictions would be the latest in a line of measures aimed at cracking down on the trade of critical technologies that Russia’s military has used in the invasion of Ukraine. Exports of most such dual-use items directly to Russia are banned, so the country has taken to buying them from third countries.
While the allied moves have succeeded in stopping some shipments, Russia has found new trans-shipment routes for goods, including through India, Malaysia and Thailand.
Besides targeting intermediaries in countries of concern, the US is expected to come up with more measures targeting Russia’s energy sector and banks, according to people familiar with the matter. Ukraine has been urging partners to ramp up their efforts to fight Russia’s ability to evade sanctions as well as cut its oil revenues.