Reported 7 months ago
The US expanded sanctions on Russia on June 12, targeting Chinese companies selling semiconductors to Russia and aiming to strengthen support for Ukraine and weaken Russia's war machine at the G7 summit. The US Treasury has threatened foreign financial institutions with secondary sanctions regarding Russian war economy, limiting Russia's military industrial base's access to certain US software and information technology services, and targeting over 300 individuals and entities across Asia, Europe, and Africa. The actions, including restricting the transfer of semiconductors to Russia, are expected to impact nearly a billion dollars worth of critical projects. This move is part of the measures to make it harder for Russia to import essential materials and equipment, ultimately weakening its economy. US officials believe these sanctions will hinder Russia's ability to conduct warfare effectively. US President Biden attended the G7 summit in southern Italy with leaders from the Group of Seven democratic countries to discuss further actions against Russia.
Source: YAHOO