The United States broadens its sanctions against Russia.

On Wednesday, the US Departments of State and Treasury imposed sanctions on an additional 300 individuals and entities across Russia and beyond, alleging ties to Moscow's "war economy." According to the Treasury Department, these latest measures specifically target individuals and companies suspected of aiding Moscow in circumventing Western embargoes. Treasury Secretary Janet Yellen emphasized that these actions aim to cut off remaining avenues for international resources and equipment procurement, particularly from third-party countries.

The sanctions, imposed on Wednesday, reportedly affect over $100 million in trade between Russia and its foreign counterparts. Notably, entities and individuals from China, Kyrgyzstan, and Turkey are included in the sanctions list, as the US expands its focus to targets across East and Central Asia, Africa, the Middle East, and the Caribbean.

The US government is intensifying pressure on financial institutions involved with Russia's war economy, aiming to thwart evasion tactics and limit Russia's access to foreign technology, equipment, software, and IT services. Additionally, the Treasury Department has broadened the definition of Russia's military-industrial complex to encompass all entities sanctioned under Executive Order 14024, which includes major Russian banks like Sberbank and VTB. This move exposes third-country financial institutions to potential sanctions for facilitating significant transactions with these entities.

Since February 2022, Washington has sanctioned over 4,000 Russian individuals and entities in a bid to weaken Moscow's military actions against Kyiv. The timing of these latest sanctions coincides with the upcoming G7 summit in Italy, where the US had anticipated announcing progress on freezing Russian sovereign assets. However, disagreements among the US and its EU allies reportedly stymied this effort.

In response to Washington's announcement, Russian Foreign Ministry spokeswoman Maria Zakharova vowed that Moscow would not leave US actions unanswered. Meanwhile, the Moscow Stock Exchange has announced it will cease trading in US dollars and euros starting Thursday, citing the impact of the new US sanctions.