US Announces New Russia Sanctions Targeting Alleged Military Network

The sanctions targeted companies based in France, Switzerland, and Taiwan

The US on Monday announced new Russia-related sanctions that target a network of people and companies accused of helping Moscow procure weapons.

The Treasury Department said that 14 individuals and 28 entities were targeted by the new sanctions that are allegedly helping Russia procure weapons or providing financial assistance to Moscow.

Unlike previous sanctions, the measures target many people and entities that are not based in Russia. The Treasury Department announced sanctions on real estate firms in France, companies based in Switzerland, and a Taiwanese microelectronic company.

The Treasury Department also announced sanctions on family members of Suleiman Kerimov, a Russian billionaire and politician who is serving in the Federation Council, Russia’s upper house of parliament. According to the Treasury Department, Kerimov was first sanctioned by the US in 2018.

Treasury Secretary Janet Yellen said in a statement that the US and its allies would “continue to use our sanctions and export controls to weaken Russia’s military on the battlefield and cut into the revenue Putin is using to fund his brutal invasion.”

Over the weekend, Yellen said that some sanctions will remain on Russia even if a peace deal is reached to end the fighting in Ukraine, a signal that the US wants to keep Russia isolated from the US-led global financial system for the long term.

Author: Dave DeCamp

Dave DeCamp is the news editor of, follow him on Twitter @decampdave.