The Joe Biden administration is seeking to close loopholes and is trying to persuade China and India to limit trade with Russia*.
< p> The USA has entered a number of powerful sanctions against economy of Russia to punish it for intrusion into Ukraine. Now US officials are pushing for them to be effective, closing loopholes and enlisting the support of other countries to support the restrictions.
This is stated in the material of The Wall Street Journal.
It is noted that officials in the administration of US President Joe Biden say that the goal of the second stage is to block all remaining routes that provide income and imports, Russian President Putin needs to wage war , even though Europe continues to purchase significant volumes of oil and gas from Russia.
This means targeting foreign banks and cryptocurrency platforms that help Russia maintain access to international currencies, blocking bank accounts and corporate assets of blacklisted oligarchs, and punishing foreign companies caught exporting sanctioned goods.
According to the authors, this also means attempts to convince countries such as China and India, which has not joined the Western campaign of economic pressure, cut the flow of money and exports still flowing to Russia.
“Washington's goal is to empower Ukrainians to defend themselves, weaken Russia's ability to fight this war, and project power into the future,” said U.S. Deputy Treasury Secretary Wally Adeyemo.
U.S. officials note that they and they did not expect their strategy of economic restrictions to achieve their goals instantly, but the impact of sanctions will gradually increase.
To prove this, the US is disclosing groups of people and companies that are helping Russia circumvent sanctions, officials said.
Specifically, the Office of Foreign assets of the Treasury Department and the Bureau of Industry and Security of the Department of Commerce are pursuing companies that continue to supply Russia with financial services and goods, such as semiconductors and weapons prohibited by the new export controls.
“Those who help evade US sanctions , will themselves be subject to sanctions,” the US Treasury Department said earlier.
However, several large countries such as China, India and Iran, which have long-standing trade and defense ties with Russia, continue to export goods , prohibited by US sanctions.
In particular, Chinese companies supply computer chips and other electronic components that US officials say have military applications, for example. And companies from India continue to supply Russians with equipment for oil and gas, also prohibited by US export controls.