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The US should step up its efforts to impose economic sanctions on Russia

The US should step up its efforts to impose economic sanctions on Russia

Washington – The United States and its allies are preparing to step up their sanctions efforts against Russia, US Deputy Treasury Secretary Wally Adeyemo said. The sanctions are expected to target foreign companies that help Moscow escape punishment, and will also impose new export restrictions to prevent supplies from Russian companies to the armed forces.

In a speech on Tuesday (2/21) marking the one-year anniversary of Russia’s invasion of Ukraine, the Kremlin said it was making a broader effort to circumvent Western sanctions and use its intelligence services to ensure the continuation of key imports and exports. to overflow

Adeyemo said the United States and its allies in the European Union (EU) and the G-7 are ready to use sanctions, export restrictions and other tools to give tough choices to foreign companies doing business with Russia. The alliance represents half of global GDP or provides material support to Russia,” he said. The EU and the US are expected to impose a new round of sanctions on Russia later this week, which will ban new exports to the country and cut additional Russian export earnings. (State Institute)

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