New US sanctions on Russia

RUSSIA / FSU POLITICS - In Brief 13 Jun 2024 by Alex Teddy

On June 13 the United States announced sanctions on Russia. Sanctions are against 300 entities in Russia but also in countries accused of facilitating sanctions evasion such as the UAE, South Africa, Turkey and China. The sanctions hit three of the main entities concerned in trading Russian liquid natural gas. More entities than ever are now deemed by the US to be part of the Russian military industrial complex.  The Russian National Clearing Center and the Moscow Exchange were hit by US sanctions. The US is trying to stop people from making a profit from Russian sovereign debt. The list of exposed targets under the sanctions has grown to 4 500. The US Treasury Secretary said that the sanctions will hit Russia's ability to access equipment, IT, software and materials from other countries. The sanctions will make it riskier for foreign banks to deal with Russia. The US sanctions will be effective from August 13. On June 13 Russia hit back by suspending trading in EUR and USD on the Moscow Exchange. Individuals and natural persons will be still allowed to buy and sell USD and EUR through lenders. Deposits in these currencies are safe, said the Russian Central Bank.

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