Mar 31, 2022 - World

U.S. announces new sanctions on Russian technology sector

.S. Secretary of the Treasury Janet Yellen speaks after touring the Denver Mint on March 11, 2022 in Denver, Colorado.

Secretary of the Treasury Janet Yellen speaks after touring the Denver Mint on March 11 in Denver, Colorado. Photo: Jason Connolly-Pool/Getty Images

The U.S. on Thursday imposed new sanctions on Russia's technology sector and a sanctions evasion network in response to the country's unprovoked invasion of Ukraine, said the U.S. Department of Treasury.

Driving the news: "We will continue to target Putin’s war machine with sanctions from every angle, until this senseless war of choice is over," Treasury Secretary Janet Yellen said in a statement.

  • Thursday's sanctions target 21 entities and 13 people "as part of [the Treasury Department's] crackdown on the Kremlin’s sanctions evasion networks and technology companies," the Treasury said.

State of play: Among the organizations included in the sanctions are Serniya and Sertal, two Moscow-based companies that illicitly procure dual-use equipment and technology for Russia’s defense sector.

  • The Treasury also announced that sanctions apply to the aerospace, marine, and electronics sectors of the Russian Federation economy.
  • "This determination allows for sanctions to be imposed on any individual or entity determined to operate or have operated in any of those sectors and provides an expanded ability to swiftly impose additional economic costs on Russia for its war of choice in Ukraine," per the Treasury.

The big picture: Thursday's announcement is the latest in a long list of U.S. sanctions on Russia announced in the wake of the invasion, including those targeting Russian politicians and oligarchs.

What they're saying: "Russia not only continues to violate the sovereignty of Ukraine with its unprovoked aggression, but also has escalated its attacks striking civilians and population centers," Yellen said.

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