US to impose sanctions on almost 90 companies from Russia, China

The US, in coordination with the G7 countries, will impose sanctions on February 24 against more than 200 individuals and legal entities from the Russian Federation and third countries, Report informs referring to the White House.

“Today, in coordination with G7 partners and allies, the Departments of the Treasury and State will implement sweeping sanctions against key revenue generating sectors in order to further degrade Russia’s economy and diminish its ability to wage war against Ukraine. This will result in sanctions being imposed on over 200 individuals and entities, including both Russian and third-country actors across Europe, Asia, and the Middle East that are supporting Russia’s war effort.

The White House added that the US Department of Commerce will announce export restrictions on nearly 90 companies from Russia, China and other countries for helping to circumvent sanctions.

“Today, the Department of Commerce will take several export control actions, listing nearly 90 Russian and third country companies, including in China among other countries, on the Entity List for engaging in sanction evasion and backfill activities in support of Russia’s defense sector,” reads the statement.