New US wave of Ukraine sanctions includes targets in Hong Kong and mainland China
- ‘We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion,’ US Treasury Secretary Janet Yellen says
The US has announced a new wave of sanctions, aimed at entities including in Hong Kong and mainland China in an effort to curb Beijing’s ability to support Russia’s war efforts in Ukraine.
The Treasury Department’s actions target more than 300 individuals and entities in Russia, Hong Kong, mainland China as well as in Turkey and the United Arab Emirates “whose products and services enable Russia to sustain its war effort and evade sanctions”.
The move is also in line with pressure that Group of 7 leaders are expected to heap on Beijing at their meeting later this week.
“Today’s actions strike at their remaining avenues for international materials and equipment, including their reliance on critical supplies from third countries,” said Treasury Secretary Janet Yellen.
“We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software and IT services,” she said.
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Moscow’s foreign ministry reacted quickly, saying that the country will respond to the “aggressive” raft of new sanctions.
