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U.S. Levels New Sanctions on Russian Tech Companies

todayMarch 31, 2022 9

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WASHINGTON — The Treasury Department on Thursday leveled new sanctions on Russian technology companies and illicit procurement networks that the country is using to evade existing sanctions, expanding the Biden administration’s effort to punish Russia for its invasion of Ukraine by crippling its economy.

The new measures reflect the challenge that the United States and its allies continue to face in enforcing restrictions that have been imposed to cut off Russia’s central bank, financial institutions and oligarchs from the global financial system, and the need to disrupt Russian supply chains and efforts to conceal transactions.

“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,” the Treasury secretary, Janet L. Yellen, said in a statement. “We will continue to target Putin’s war machine with sanctions from every angle until this senseless war of choice is over.”

Among the 34 organizations and individuals targeted are Serniya and Sertal, Moscow-based companies that illicitly procure dual-use equipment and technology for Russia’s defense sector.

The Treasury Department is also imposing sanctions on several technology companies that produce computer hardware, software and microelectronics that are used by Russia’s defense sector. Among them is Joint Stock Company Mikron, Russia’s largest chip-maker.

Adewale Adeyemo, the deputy Treasury secretary, foreshadowed the sanctions during a speech on Tuesday, when he said that Russia’s military industrial sector would be the next to face restrictions.

“We are planning to target additional sectors that are critical to the Kremlin’s ability to operate its war machine, where a loss of access will ultimately undermine Russia’s ability to build and maintain the tools of war that rely on these inputs,” Mr. Adeyemo said in his speech at Chatham House, an international affairs think tank in London. “In addition to sanctioning companies in sectors that enable the Kremlin’s malign activities, we also plan to take actions to disrupt their critical supply chains.”

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