US extends technology sanctions for Belarus and the Russian oil industry.

Written by admin

US extends technology sanctions for Belarus and the Russian oil industry.

The Biden administration on Wednesday banned the export of certain technologies to Russia and Belarus, saying the action would undermine its ability to sustain a military operation against Ukraine.

The new controls would prevent US companies from exporting certain sensitive goods that support the defense, aerospace and maritime industries in Belarus, which the administration said aided in Russia’s invasion of Ukraine. The department said the move would extend similar sanctions imposed on Russia on February 24 in Belarus, preventing goods such as technology and software from moving from Belarus into restricted areas in Russia.

Companies around the world that use US software or technology to manufacture their products will also be barred from shipping certain sensitive items to Belarus, while Belarusian military entities will be further tightened on the global goods they can buy. Limitations will have to be faced.

The Commerce Department also said it would take action to stop the flow of critical technologies to Russian oil refineries, which provide a major revenue source for the Russian military. The Biden administration has previously refrained from imposing some financial sanctions on the Russian oil and gas sector in order to keep up with the global energy supply and avoid escalating inflation. But the administration said the measure would take effect over time, gradually undermining Russia’s position as an energy supplier without harming American consumers.

Some companies and institutions that have supported the Russian or Belarusian military will also be added to a blacklist that bans the purchase of American products.

See also  Fed lowers inflation in interest rates and projects: Live Updates

Commerce Secretary Gina M. Raimondo said the Ukrainian people’s resolve “has inspired a strong international response.”

“The Commerce Department will continue to lead strong, coordinated action with our global allies and partners to apply maximum pressure to Russia, its pro-Belarus and any other parties that wish to support them,” she said.

#extends #technology #sanctions #Belarus #Russian #oil #industry

About the author


Leave a Comment

%d bloggers like this: