US imposes sanctions on over 100 companies in Russia's defence sector

The US Department of the Treasury has added over 100 Russian companies, which are part of the Russian military-industrial complex, to the sanctions list on 12 June.

Source: European Pravda with reference to the statement by the US Treasury

Details: The US Treasury stated that "Russia has transformed into a war economy in which companies across the spectrum of Russian industry contribute to Russia’s war effort".

Legal entities, listed in the latest decree of the Treasury, "operate or have operated in the defence and related materiel, manufacturing, technology, transportation, or financial services sectors of the Russian Federation economy".

Most of these are Russian manufacturers of military equipment – from drones to ships – and components for it, components of explosives, ammunition, electronics, and military equipment repair plants.

The decree separately mentions the Bank Tochka, founded in 2023, for providing financial services to "an organisation that provides ammunition to Russian military personnel" and the Russian company Ekodor that transports Russian military cargoes.

Background:

• The US Department of the Treasury also announced the extension of the mechanism of secondary sanctions against Russia and the sanctions against over 90 foreign companies and individuals that help Moscow evade sanctions.
• In addition to this, the US announced sanctions against the Moscow Exchange, which trades shares of companies, and the National Clearing Centre, which acts as a mediator in foreign exchange trading.

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