Technology sector

US announces new sanctions against Russian tech sector

The United States on Thursday imposed new sanctions on Russia’s tech sector and a sanctions-busting network in response to the country’s unprovoked invasion of Ukraine, the US Treasury Department said.

Driving the news: “We will continue to target Putin’s war machine with sanctions from every angle until this senseless war of choice is over,” Treasury Secretary Janet Yellen said in a statement.

  • Thursday’s sanctions target 21 entities and 13 individuals “as part of [the Treasury Department’s] crackdown on Kremlin sanctions-busting networks and tech companies,” the Treasury said.

State of play: Among the organizations targeted by the sanctions are Serniya and Sertal, two Moscow-based companies that illegally purchase dual-use equipment and technology for the Russian defense sector.

  • The Treasury also announced that sanctions apply to the aerospace, marine and electronics sectors of the economy of the Russian Federation.
  • “This decision allows sanctions to be imposed on any person or entity determined to operate or has operated in any of these sectors and provides an expanded ability to quickly impose additional economic costs on Russia for its war of choice in Ukraine,” according to the Treasury. .

The big picture: Thursday’s announcement is the latest in a long list of US sanctions against Russia announced following the invasion, including those targeting Russian politicians and oligarchs.

What they say : “Russia not only continues to violate Ukraine’s sovereignty with its unprovoked aggression, but has also intensified its attacks on civilians and population centers,” Yellen said.

Go further: West tightens sanctions on Russia after Ukraine invasion