US Expands Sanctions Against Russia

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Facts

  • The US Treasury Department on Wednesday announced an array of new sanctions targeting more than 300 entities and individuals it accused of facilitating Russia's 'unjust war of choice' against Ukraine.1
  • Along with entities in Russia, Turkey, and the United Arab Emirates, the sanctions include dozens of China-based companies 'whose products and services enable Russia to sustain its war effort and evade sanctions.'2
  • The secondary sanctions aim at 'foreign financial institutions that deal with Russia's war economy' and are intended to prevent Russia's military-industrial base from using certain US software and information technology services.3
  • According to Treasury Secretary Janet Yellen, the punitive measures target Russia's 'remaining avenues for international materials and equipment.' The targeted entities include the Moscow Exchange and multiple subsidiaries.4
  • The announcement comes as US Pres. Joe Biden is set to join the G7 summit in Italy, where one of the top priorities will reportedly be securing new ways to support Ukraine and further constrain the Kremlin.5
  • In response to the new set of US sanctions, the Russian central bank has announced that it has suspended trading in dollars and euros on the Moscow Stock Exchange, adding people can still buy and sell dollars and euros through Russian banks.6

Sources: 1Al Jazeera, 2Voice of America, 3Reuters, 4The Moscow Times, 5Politico and 6StratNews Global.

Narratives

  • Pro-establishment narrative, as provided by The Japan Times. These fresh sanctions underscore the US' commitment to crippling the Russian war machine and continuing to firmly stand by Ukraine. Despite several rounds of trade restrictions, Russia has partly managed to circumvent the curbs by importing what it needs through third countries or clandestine intermediary networks. However, the new sanctions and the combined economic power of the US and the G7 will help ensure that Russia's aggression against Ukraine comes to an end.
  • Establishment-critical narrative, as provided by RT. Washington and its proxies are again shooting themselves in the foot, as the 'sanctions sword' with which the collective West wants to impose its will on other countries has long been blunt. Washington isn't concerned with Ukraine, but only with maintaining its crumbling hegemony. However, Russia has adapted to the string of hostile measures and will emerge stronger and more competitive from the economic war, while the West's decline will continue.

Predictions