U.S. Expands Sanctions on Russia as G7 Leaders Gather

2024-06-12 14:38:41+00:00 - Scroll down for original article

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The Biden administration on Wednesday announced a series of new financial sanctions aimed at interrupting the fast-growing technological links between China and Russia that American officials believe are a broad effort to rebuild and modernize Russia’s military during its war with Ukraine. The actions were announced just as President Biden was leaving the country for a meeting in Italy of the Group of 7 industrialized economies, where a renewed push to degrade the Russian economy will be at the top of his agenda. The measures were coordinated by the Treasury, State and Commerce Departments and aimed to further isolate Russia from the global financial system and cut off its ability to gain access to the technology that powers its military arsenal. The effort has grown far more complicated in the past six or eight months after China, which had previously sat largely on the sidelines, stepped up its shipments of microchips, machine tools, optical systems for drones and components for advanced weaponry, U.S. officials said. But so far Beijing appears to have heeded Mr. Biden’s warning against shipping weapons to Russia, even as the United States and NATO continue to arm Ukraine.