US to sanction military procurement network helping Russia

The U.S. will shortly announce sanctions against 42 individuals and companies that help Russia buy weapons.

New sanctions will be put in place by the US on a global network of people and businesses that assisted Russia, which is at war in Ukraine, in acquiring military technology.

This was stated by U.S. Treasury Secretary Janet Yellen, Reuters reported.

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At the G20 summit in Bali, Yellen informed reporters that the sanctions will affect 14 people and 28 companies, including financial intermediaries, but she decided not to go into further detail. She stated that the announcement is planned for Monday night.

Through sanctions and export regulations, we aim to block Russia’s military activities and prevent it from obtaining the weapons it needs, according to Yellen.

She declined to provide details on which technologies would be targeted to stop Russian purchases.

Read also: Russia-Iran deal on ballistic missiles supply being agreed

Major Russian military-industrial firms have been sanctioned by the U.S. Treasury Department, and the Commerce Department has stopped exports of American parts and technology used in some of Russia’s military hardware.

Drones that Russia was able to get from Iran were used to attack Ukrainian cities and energy infrastructure. It was unclear whether any restrictions were connected to these drone ammunition acquisitions given that Iran’s military organizations and industries are already subject to severe U.S. sanctions due to Tehran’s nuclear development program.

Before this, Yellen stated that some sanctions against Russia might continue even after a potential peace agreement with Ukraine.

Read also: Why are talks with Russia impossible, and more support for Ukraine is needed?