Reported 7 months ago
The ongoing Russia-Ukraine war for over two years has seen multiple sanctions imposed by Western countries led by the US on Russia, yet Russia managed to get support from third parties. The US has now decided to extend its reach by announcing an expansion of sanctions on the supply of chips and other goods to Russia, targeting sellers in China, including Hong Kong. These measures are part of the Biden administration's response to Russia evading Western sanctions and curbing its latest actions in the Ukraine conflict, closing loopholes by including US-branded goods and Hong Kong entities reportedly transporting goods to Moscow. The US is also preparing new significant sanctions on financial and non-bank institutions as conduits for Russian military technology acquisition. This comes as President Biden is poised to attend the G7 summit focused on aiding Ukraine and further sanctioning Russia, following discussions on strengthening internal checks within companies involved in selling goods and proposals for sanctions on aiding Russian enterprises like some Chinese firms.
Source: YAHOO