US Expands Russia Sanctions to Target LNG Projects, Chips
- Move aims to restrict goods made, sold via third-party nations
- Biden ratchets up help for Ukraine with war now in third year
President Joe Biden’s administration is expanding the use of secondary sanctions on Russia with an eye toward curtailing the sale of semiconductor chips and other goods to Russia, targeting third-party sellers in China and elsewhere as it looks to further choke off Vladimir Putin’s war machine in Ukraine.
The new measures include all Russian companies, people and entities that have been previously sanctioned, including banks Sberbank and VTB, increasing the risk to third-country financial institutions or companies who do business in the Russian economy. The measures also include sanctions on new Russian natural gas projects and Russia’s main stock exchange, the MOEX, as well as the National Clearing Center and the country’s main settlement depository.