US imposes sanctions on more than 300 individuals and entities

In a statement regarding the sanctions, the US Department of the Treasury said, "Today's actions target more than 300 individuals and entities that provide the products and services that allow Russia to sustain its war effort and evade sanctions."

The sanctions, which aim to strike a blow to the flow of money in and out of Russia, also targeted Russia's financial infrastructure. The Moscow Exchange was among the entities targeted by the sanctions. The sanctions package also included entities involved in a liquefied natural gas project in the Arctic, with the aim of hindering the development of Russia's energy sector and its future cash resources.

The US press stated that the new sanctions, announced ahead of the G7 Summit where the most important agenda will be increasing support for Ukraine and "blunting the power of the Russian war machine," are intended to deter companies that supply technological products to Russia.

"WE ARE INCREASING THE RISKS"

The sanctions package included 7 companies based in China and Hong Kong that sent millions of dollars worth of materials to Russia. These companies were accused of sending materials to Russia, including products that could be used in weapons systems. Chinese companies providing computer chips to Russia were also targeted by the sanctions. In this context, sanctions were imposed on Chinese companies and their executives that provide electronic integrated circuits, metalworking machinery, semiconductor devices, transformers, and similar products to Russia. From Turkey, companies that provided equipment such as machine tools, metalworking tools, electronic integrated circuits, and welding equipment worth millions of dollars to their customers in Russia were targeted by the sanctions.

US Treasury Secretary Janet Yellen said in her statement regarding the sanctions, "Today's actions strike at the remaining avenues for international materials and equipment access, including their reliance on critical supplies from third countries."

Yellen stated, "We are increasing the risk for financial institutions that deal with Russia's war economy. We are eliminating evasion paths and diminishing Russia's ability to benefit from access to foreign technology, equipment, software, and IT services."

Shortly after the announcement of the sanctions targeting Russia's financial infrastructure and international individuals and institutions supporting Russia, retaliation came from Russia. The Moscow Exchange announced that it had decided to terminate transactions in dollars and euros. In this context, the Moscow Exchange announced that dollar and euro-based transactions would be halted after June 13.

On the other hand, the number of Russian individuals and entities sanctioned by the US since the beginning of the war in Ukraine has exceeded 4,000.

News Source: İHA