US Expands Sanctions Ahead of G7 Summit, Targets Chinese Support for Russian War Effort

The United States on Wednesday expanded sanctions against Russia, targeting Chinese companies aiding Moscow's war in Ukraine, as G7 leaders gathered to discuss support for Ukraine. Nearly 300 new sanctions aim to deter foreign entities from aiding Russia and emphasize the Kremlin’s economic pivot toward war readiness.

The United States widened its sanctions against Russia on Wednesday as G7 leaders prepared to gather in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia's war machine.

Wednesday's package targeted Chinese companies which help Russia pursue its war in Ukraine and raised the stakes for foreign financial institutions that work with sanctioned Russian entities. This move underscores the US effort to tighten the financial noose around Moscow by limiting its access to crucial technologies and increasing costs for critical supplies.

The U.S. has already sanctioned more than 4,000 Russian entities since the war began, yet new companies continually emerge to aid Moscow's efforts. "We have to be very honest with ourselves that Putin is a very capable adversary who is willing to adapt and find those willing collaborators," Aaron Forsberg, the State Department's Director for Economic Sanctions Policy and Implementation, told The Associated Press.

Wednesday's expanded penalties target over USD 100 million in trade between Russia and its suppliers. More than 300 new sanctions focus on deterring international firms in China, the UAE, and Turkiye from assisting Russia. Additionally, foreign financial institutions face potential sanctions for engaging with almost any sanctioned Russian entity, underscoring the US perspective that Russia's economy has shifted to a war footing.

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