US tightens sanctions regime against Russia

Continued: Moscow Exchange halted dollar and euro trading due to new sanctions

The United States tightened the sanctions regime against Russia on June 12. The new ban stopped dollar and euro trading on the Russian stock exchange. Washington expanded the list of Russian individuals, companies, banks and sectors of the economy, cooperation with which may be grounds for secondary sanctions, and completely banned a number of IT services and consultations to anyone inside Russia.

The ban on cooperation for financial institutions now applies to any companies and individuals sanctioned because of Russia’s invasion of Ukraine and any Russian companies operating in the construction, aerospace, manufacturing sectors of the economy, the US Treasury Department said on its website.

The sanctions list includes branches of Russian banks VTB, Vnesheconombank, Sberbank in China and India, and Tochka Bank. Moscow Exchange, the National Clearing Center and the National Settlement Depository, the insurance company Sogaz and the Russian National Reinsurance Company were also placed under sanctions.

The list was expanded to include suppliers of several Russian companies from other countries, including China, intermediaries supplying sanctioned products to Russian enterprises, seven Russian vessels for the transportation of liquefied natural gas, LNG production projects, Amur Iron and Steel Works, and Sinara Transport Machines, a manufacturer of railway equipment.

In total, more than 300 individuals and organizations in Russia and other countries of the world fell under the sanctions of the Ministry of Finance. The U.S. State Department imposed sanctions against more than 100 legal entities and individuals involved in the development of Russia’s export potential, the department said in a statement.

Several large Chinese companies have been added to the Russia-related sanctions list, according to the ImpNavigator Telegram channel.

– Poly Technologies, a major manufacturer of weapons, missiles and military drones.

– Penglai Jutal Shipyard in Yantai, specializing in the construction of offshore gas and oil platforms.

– Mile Hao Xiang Technology, a manufacturer of engines for drones and aircraft models.

— Manufacturers of Pratic CNC machine tools, Zhejiang Zhenhuan CNC Machine Tool and Shandong Oree Laser Technology metal cutting laser machines.

– Wuhan Tianyu Information Industry, a manufacturer of terminals and payment equipment.

– Supplier of system units, computer coolers and power supplies DeepCool.

Some of these companies operate on the civilian market not only in Russia, but also in the United States and the European Union.

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