Weather Futures Futures Markets Options Markets Page Headline News DTN Renewable Fuels Livestock
 Simon's Grain and Feed Inc.
 
 
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
US, EU Pile New Sanctions on Russia    02/23 06:52

   

   WASHINGTON (AP) -- The United States and the European Union are piling new 
sanctions on Russia on the eve of the second anniversary of its invasion of 
Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny 
last week in an Arctic penal colony.

   The U.S. Treasury Department plans Friday to impose more than 500 new 
sanctions on Russia and its war machine in the largest single tranche of 
penalties since Russia's invasion of Ukraine on Feb. 24, 2022. They come on the 
heels of a series of new arrests and indictments announced by the Justice 
Department on Thursday that target Russian businessmen, including the head of 
Russia's second-largest bank, and their middlemen in five separate federal 
cases.

   The European Union announced Friday that it is imposing sanctions on several 
foreign companies over allegations that they have exported dual-use goods to 
Russia that could be used in its war against Ukraine. The 27-nation bloc also 
said that it was targeting scores of Russian officials, including "members of 
the judiciary, local politicians and people responsible for the illegal 
deportation and military re-education of Ukrainian children."

   "The American people and people around the world understand that the stakes 
of this fight extend far beyond Ukraine," President Joe Biden said in a 
statement announcing the sanctions. "If Putin does not pay the price for his 
death and destruction, he will keep going. And the costs to the United States 
-- along with our NATO Allies and partners in Europe and around the world -- 
will rise."

   The U.S. specifically was to target individuals associated with Navalny's 
imprisonment a day after Biden met with the opposition leader's widow and 
daughter in California. It was also hitting "Russia's financial sector, defense 
industrial base, procurement networks and sanctions evaders across multiple 
continents," Biden said. "They will ensure Putin pays an even steeper price for 
his aggression abroad and repression at home."

   The EU asset freezes and travel bans constitute the 13th package of measures 
imposed by the bloc against people and organizations it suspects of undermining 
the sovereignty and territorial integrity of Ukraine.

   "Today, we are further tightening the restrictive measures against Russia's 
military and defense sector," EU foreign policy chief Josep Borrell said. "We 
remain united in our determination to dent Russia's war machine and help 
Ukraine win its legitimate fight for self-defense."

   In all, 106 more officials and 88 "entities" -- often companies, banks, 
government agencies or other organizations -- have been added to the bloc's 
sanctions list, bringing the tally of those targeted to more than 2,000 people 
and entities, including Russian President Vladimir Putin and his associates.

   Companies making electronic components, which the EU believes could have 
military as well as civilian uses, were among 27 entities accused of "directly 
supporting Russia's military and industrial complex in its war of aggression 
against Ukraine," a statement said.

   Those companies -- some of them based in India, Sri Lanka, China, Serbia, 
Kazakhstan, Thailand and Turkey -- face tougher export restrictions. The names 
of the companies will only be made public once they are published in the EU's 
official journal, which should be a matter of days.

   The bloc said the companies "have been involved in the circumvention of 
trade restrictions," and it accuses others of "the development, production and 
supply of electronic components" destined to help Russia's armed forces.

   Some of the measures are aimed at depriving Russia of parts for pilotless 
drones, which are seen by military experts as key to the war.

 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN