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U.S. steps up Russia sanctions, placing threat of more sanctions on businesses partnering with Russia


U.S. steps up Russia sanctions, placing threat of more sanctions on businesses partnering with Russia

WASHINGTON -- The U.S. Treasury Department said Wednesday that it's expanding the web of sanctions on companies and institutions supporting Russia's war efforts in Ukraine, re-designating about 100 entities for sanctions and placing sanctions on 15 new entities.

A senior Treasury Department official said that under the sanctions any company that does meaningful business with parts of Russia's military industrial complex would also face the risk of penalties. The official insisted on anonymity to preview the announcement on a call with reporters.

The official said that removal of the sanctions would require congressional notification. That step could potentially make it harder for the incoming Republican Trump administration to adjust and change sanctions without drawing public scrutiny.

The official stressed that there are new sanctions on 15 companies related to Russia and China that have worked together to avoid existing sanctions.

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