The United States and its allies will impose new sanctions this week on Russia in order to punish the Kremlin for the war in Ukraine.
Deputy U.S. Treasury Secretary Wally Adeyemo announced on Feb. 21 further efforts to prevent Russia from evading sanctions and export controls, aimed at pressuring it to withdraw from its neighbor.
Adeyemo said that more than 30 countries, led by the G-7, the European Union, and the United States, agreed to inhibit Russian purchases of dual-use goods, which contain semiconductors needed for its military.
The deputy said that the Western-led coalition—”representing half of the global GDP”—is prepared to use sanctions, export controls, and other tools to warn that those continuing to do business with Russia, “or provide material support to Russia,” will face the consequences, such as sever sanctions if they persist….