Wednesday, February 21

US to sanction Russian firms providing tech to Moscow’s military – WSJ


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The Biden administration is preparing sanctions targeting Russian companies it says provides goods and services to Moscow’s military and intelligence services, the Wall Street Journal reported on Friday.

The US Treasury Department sanctions could be announced as early as next week, the report https://www.wsj.com/articles/us-to-sanction-companies-providing-technology-for-russian-military-intelligence-services- 11648245575?mod=latest_headlines said, citing US officials.

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The Treasury Department declined to comment on the report.

Most of the companies that are expected to come under the reported sanctions – including Serniya Engineering and equipment maker Sertal – were earlier added to a US list banning exports of sensitive technologies to them, according to the report.

While that blackballs the firms, it does not ban all business dealings, the report added.

The United States and its allies on Thursday ramped up pressure on Moscow over its invasion of Ukraine. Washington imposed fresh sanctions on dozens of Russian defense companies, hundreds of members of its parliament and the chief executive of the country’s largest bank. (Reporting by Uday Sampath in Bengaluru; Editing by Devika Syamnath)



financialpost.com