Foreign

July 20, 2023

US sanctions more than 120 Russian, Kyrgyz firms over Ukraine war

US sanctions more than 120 Russian, Kyrgyz firms over Ukraine war

The United States placed more than 120 companies from Russia as well as several Kyrgyzstan firms on its sanctions blacklist Thursday for what it said were their contributions to Russia’s war on Ukraine.

The sanctions aimed at further choking off Russia’s access to critical raw and manufactured materials as well as financing in order to hinder its war machine, the State Department said.

Among the scores of firms on the new State and US Treasury blacklists are Russian banks, energy industry companies, shipping firms, defence and technology procurement businesses and manufacturers, and Russian private military companies.

In addition, seven state-controlled research institutes dealing with advanced technologies were placed on the blacklist.

The Treasury also singled out several companies in Kyrgyzstan which it said Russia was using to skirt US and allies’ export restrictions on technological items that Russian manufacturers want.

One Kyrgyz company founded last year, RM Design and Development, has been a “prolific shipper” of electronic semiconductors and integrated circuits to Russian buyers that supply defence manufacturers, according to the Treasury.

Earlier on Thursday Kyrgyzstan denied helping its ally Moscow circumvent sanctions imposed over the Ukraine invasion, but did admit to “the “possible involvement of private companies” and said it is investigating.

“These sanctions will restrict Russia from accessing critical materials, inhibit its future energy production and export capabilities, curtail its use of the international financial system, and crack down on those complicit in sanctions evasion and circumvention,” said Secretary of State Antony Blinken in a statement.

US sanctions generally aim to make it harder for blacklisted persons or businesses to operate internationally by forbidding Americans or US-based businesses — including foreign banks with US branches — from transactions with them.

AFP