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Wednesday's package targeted Chinese companies which help Russia pursue its war in Ukraine and raised the stakes for foreign financial institutions which work with sanctioned Russian entities. Sanctions against Russia, he said, are therefore a "dynamic affair." Wednesday's package targets more than $100 million in trade between Russia and suppliers for its war. More than 300 new sanctions are largely aimed at deterring individuals and companies in countries including China, the United Arab Emirates and Turkey from helping Moscow circumvent Western blocks on obtaining key technology. They also threaten foreign financial institutions with sanctions if they do business with almost any sanctioned Russian entity, underscoring the U.S. view that the Kremlin has pivoted the Russian economy on to a war footing.
Persons: Putin, Aaron Forsberg Organizations: Russia Wednesday, State, Economic, Associated Press, Russia, United Arab Locations: States, Italy, Ukraine, Russia, U.S, Moscow, China, United Arab Emirates, Turkey
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