New export controls target oil and gas-related projects in Russia and Belarus, Commerce Department says
The Biden administration today added 71 more entities to a trade blacklist for its support of Russiaas the Group of Seven richest countries in the world (G7) announced the imposition of new sanctions against Moscow for its war in Ukraine.
The US Commerce Department action targets those who support the Russian military and expands the scope of export controls to Russia and Belarus. The blacklist includes 69 Russian entities, one from Armenia and one from Kyrgyzstan.
The new export controls target oil and gas-related projects in Russia and Belarus, the Commerce Department says.
These actions are part of the latest round of sanctions and export controls decided by the USA and other countries in response to the Russian invasion of Ukraine. They are designed to damage Russia’s industrial infrastructure and its ability to sustain war.
The new moves come as the United States and other major Group of Seven economies agreed to toughen sanctions against Russia at their meeting in Japan.
Source :Skai
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