US adds 71 ​​companies to trade blacklist as G7 expands sanctions on Russia

The President’s Government Joe Biden It added 71 companies to a trade blacklist on Friday for supporting Russia, while the Group of Seven (G7) announced new sanctions on Moscow over the war in Ukraine.

The action of the Department of Commerce of USA focuses on detracting from support for the Russian armed forces and broadens the scope of controls on exports from Russia and belarus. The blacklist includes 69 Russian entities, one from Armenia and one from Kyrgyzstan.

The new export controls focus on oil and gas projects in Russia and Belarus, according to the Commerce Department. Other enterprises include aircraft parts production and repair plants, gunpowder, tractor and automobile factories, shipyards and engineering centers in Russia.

The actions are part of the latest round of sanctions and export controls by the United States and other countries in response to Russia’s invasion of Ukraine. They are designed to degrade Russia’s industrial base and its ability to sustain war.

The United States and a coalition of 37 other countries have imposed unprecedented export controls on Russia since their unprovoked attack on Ukraine in February 2022.

The new measures come as the United States and the rest of the major economies of the “Group of Seven” agreed to toughen sanctions against Russia at their meeting in Japan.

In the oil and gas sector, the Commerce Department said it focuses on exploration or production in deep water, in the Arctic, or on shale projects in Russia or Belarus that have the potential to produce oil or gas.