New U.S. sanctions target Russian gold imports, defense industry

WASHINGTON, June 28 (Reuters) – The USA on Tuesday imposed sanctions on greater than 100 targets and banned new imports of Russian gold, performing on commitments made by the Group of Seven leaders this week to additional punish Russia over its invasion of Ukraine.

The U.S. Treasury Division stated it imposed sanctions on 70 entities, a lot of which it stated are important to Russia’s protection industrial base, in addition to 29 folks in an effort to hinder Russia’s capability to develop and deploy weapons and expertise.

The transfer freezes any U.S. property of these designated and usually bars Individuals from coping with them.

“Concentrating on Russia’s protection trade will degrade (Russian President Vladimir) Putin’s capabilities and additional impede his warfare towards Ukraine, which has already been stricken by poor morale, damaged provide chains, and logistical failures,” Treasury Secretary Janet Yellen stated in an announcement.

The U.S. motion is the newest in a number of rafts of sanctions concentrating on Moscow since its Feb. 24 invasion of Ukraine.

Recent sanctions had been imposed on Rostec, Russia’s state aerospace and protection conglomerate. The Treasury stated Rostec’s “administration umbrella contains greater than 800 entities throughout a variety of sectors” and that every one entities owned 50% or extra, instantly or not directly, by Rostec are blocked.

United Plane Company (UAC)was sanctioned to “weaken Russia’s capability to proceed its aerial assault on Ukraine,” the Treasury stated.

UAC makes Russia’s MiG and Sukhoi fighter jets – planes which can be additionally flown by U.S. allies together with some NATO members – and is majority-owned by Rostec.

Tupolev, maker of Russian strategic bomber and transport plane, was additionally designated.

PLANES, TRUCKS, GOLD

Irkut Corp, a UAC-affiliated plane producer that builds lots of the Sukhoi Su-30 fighter jets utilized by Russia in Ukraine, was focused, as had been a number of of its subsidiaries and different corporations in Russia’s aerospace sector.

The Treasury additionally named some 20 entities that develop, produce and repair army electronics gear below the Rostec-owned Ruselectronics digital firm.

The USA slapped sanctions on Russia’s largest truck producer, Kamaz (KMAZ.MM), saying its automobiles have been seen carrying missiles and Russian troopers all through the Ukraine battle. It named 9 subsidiaries of Kamaz, a publicly-traded firm lower than 50% owned by Rostec.

U.S. imports of Russian-origin gold have been banned, apart from gold situated outdoors of Russia previous to Tuesday. Russia produces round 10% of the gold mined globally annually and it’s the nation’s greatest non-energy export.

Gold is a vital asset for the Russian central financial institution, which has confronted restrictions on accessing a few of its property held overseas due to Western sanctions.

Others designated on Tuesday embody folks concerned in sanctions evasion, the battle, in addition to a number of present and former officers within the two self-declared breakaway territories in Ukraine’s Donbas area – the Donetsk Folks’s Republic and the Luhansk Folks’s Republic.

The State Division on Tuesday can be imposing sanctions on 45 entities and 29 folks, together with Russian army items, the Treasury stated. Over 500 Russian army officers may even be hit with visa restrictions, as will different officers.

Reporting by Daphne Psaledakis in Washington, Michelle Nichols in New York and David Lawder in Saint Louis
Modifying by Chizu Nomiyama and Marguerita Choy

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