Economic news

U.S. to sanction military procurement network aiding Russia, Yellen says

2022.11.13 22:48



© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. REUTERS/Altaf Hussain

By David Lawder

NUSA DUA, Indonesia (Reuters) -U.S. Treasury Secretary Janet Yellen said the United States will impose new sanctions on a transnational network of individuals and companies that have been working to procure military technologies for Russia’s war effort in Ukraine.

Yellen told reporters on the sidelines of the G20 summit in Bali the sanctions would target 14 individuals and 28 entities, including financial facilitators, but she declined to provide details on where they were located. She said the announcement was scheduled for later on Monday.

“This is part of our larger effort to disrupt Russia’s war effort and deny equipment it needs through sanctions and export controls,” Yellen told reporters.

She declined to provide details on which technologies the sanctions would target in an effort to cut off Russian purchases.

The U.S. Treasury has sanctioned major military industrial firms in Russia and the Commerce Department has cut off exports of American-made components and U.S. technologies that have been used in some of Russia’s military hardware. Yellen said these were already having an impact on the battlefield in Ukraine.

Russia has managed to procure drones from Iran that have been used to attack cities and power infrastructure in Ukraine. Iranian military entities and industries are already under heavy U.S. sanctions over Tehran’s nuclear development program, and it was unclear whether any of the sanctions were related to those drone munitions purchases.

Yellen also said that at the same time the United States would continue to support Ukraine with financial and economic aid. The Biden administration has requested an additional $4.5 billion in non-military assistance from Ukraine, and Yellen said that, once congressional approval was secured, the Treasury would immediately begin disbursing it to Ukraine.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 74,933.08 0.25%
ethereum
Ethereum (ETH) $ 2,805.01 6.02%
tether
Tether (USDT) $ 1.00 0.32%
solana
Solana (SOL) $ 186.69 0.84%
bnb
BNB (BNB) $ 593.51 1.46%
usd-coin
USDC (USDC) $ 1.00 0.18%
xrp
XRP (XRP) $ 0.548669 2.17%
dogecoin
Dogecoin (DOGE) $ 0.191594 5.97%
staked-ether
Lido Staked Ether (STETH) $ 2,805.79 6.21%
tron
TRON (TRX) $ 0.160549 1.93%
cardano
Cardano (ADA) $ 0.371243 3.11%
the-open-network
Toncoin (TON) $ 4.88 1.91%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,319.57 6.56%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 2.15%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 74,853.06 0.47%
avalanche-2
Avalanche (AVAX) $ 26.76 0.96%
weth
WETH (WETH) $ 2,804.67 6.16%
chainlink
Chainlink (LINK) $ 12.27 3.03%
bitcoin-cash
Bitcoin Cash (BCH) $ 377.30 0.65%
sui
Sui (SUI) $ 2.27 1.88%
polkadot
Polkadot (DOT) $ 4.08 0.79%
leo-token
LEO Token (LEO) $ 6.23 0.61%
usds
USDS (USDS) $ 0.994087 1.02%
uniswap
Uniswap (UNI) $ 8.94 2.33%
litecoin
Litecoin (LTC) $ 71.03 0.89%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,954.03 6.21%
aptos
Aptos (APT) $ 9.79 4.24%
near
NEAR Protocol (NEAR) $ 4.14 0.82%
pepe
Pepe (PEPE) $ 0.00001 8.71%
bittensor
Bittensor (TAO) $ 517.83 3.03%
internet-computer
Internet Computer (ICP) $ 7.72 0.61%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39 0.65%
dai
Dai (DAI) $ 1.00 0.17%
monero
Monero (XMR) $ 163.37 0.50%
ethereum-classic
Ethereum Classic (ETC) $ 19.93 3.27%
kaspa
Kaspa (KAS) $ 0.118295 1.31%
stellar
Stellar (XLM) $ 0.09837 1.22%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.24%
whitebit
WhiteBIT Coin (WBT) $ 19.32 0.04%
aave
Aave (AAVE) $ 185.06 14.51%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.341308 3.64%
blockstack
Stacks (STX) $ 1.66 1.26%
okb
OKB (OKB) $ 39.83 2.08%
first-digital-usd
First Digital USD (FDUSD) $ 0.999908 0.49%
crypto-com-chain
Cronos (CRO) $ 0.08559 0.55%
dogwifcoin
dogwifhat (WIF) $ 2.32 3.54%
arbitrum
Arbitrum (ARB) $ 0.573435 7.47%
filecoin
Filecoin (FIL) $ 3.71 2.16%
mantle
Mantle (MNT) $ 0.632848 7.40%
celestia
Celestia (TIA) $ 5.08 6.01%