Illustration depicting Chinese and U.S. flags alongside semiconductor chips
Reuters
The U.S. government is gearing up to announce expanded sanctions aimed at regulating the sale of semiconductor chips and other products to Russia, with a specific focus on third-party sellers in China, according to reports.
These new measures, expected to be revealed soon, are part of the Biden administration’s strategy to counter Russia’s efforts to evade Western sanctions and weaken its military capabilities in the conflict with Ukraine, as reported by Bloomberg.
The upcoming regulations will broaden existing export controls to cover U.S.-branded goods, not just those made in the U.S. Additionally, specific Hong Kong entities involved in shipping goods to Moscow will be identified in the updated sanctions, as per Reuters.
Of particular interest in these changes are semiconductor chips, as highlighted in the Bloomberg report.
White House spokesperson John Kirby announced on Tuesday that Washington will introduce new sanctions and export controls targeting Russia.
“We’re determined to increase the costs for the Russian war machine, and this week we will unveil a significant set of new sanctions and export control measures,” Kirby stated.
These developments coincide with President Joe Biden’s departure for a summit in southern Italy with other Group of Seven (G7) leaders, where bolstering support for Ukraine and weakening the Russian military are key agenda items.
U.S. officials have expressed concerns over China’s growing trade ties with Russia, which they believe are facilitating Moscow’s military buildup.
Reports suggest that machinery and equipment exported from China and other countries are aiding Russia in producing weapons domestically, reducing its reliance on imports.
Given Russia’s shift towards a war-focused economy, officials argue that expanding the scope of U.S. goods covered by export controls is essential.
Meanwhile, Ukrainian President Volodymyr Zelenskiy is scheduled to meet with G7 leaders to shed light on the challenges faced by Ukrainian forces.
In addition to the new export controls, Washington is also expected to announce significant sanctions targeting financial institutions and non-banking entities involved in supplying the Russian military with technology and goods, aiming to further hamper Russia’s military operations.
Russia
China
Joe Biden
Ukraine
2024-06-23 09:15:02
Original article from www.ibtimes.com