US imposes new sanctions against more than 100 companies and individuals for supporting Russia

On 23 August, the US Treasury Department imposed sanctions against over 100 individuals and legal companies in 16 different jurisdictions for circumventing Western sanctions imposed on Russia. The latest US limitations impact more than a dozen transnational networks, particularly those involved in the procurement of Russian weapons and equipment, which help to evade sanctions and maintain Russia's military-industrial base.

As reported by the press service of US Treasury Department, Giulio Sfoglietti, an Italian citizen, oversaw one of the networks that allowed Russia to purchase weapons in Türkiye. Another network imported components for the sanctioned Russian Promtech via businesses in Türkiye, France, and Hong Kong.

The US Treasury revealed networks in Switzerland and Liechtenstein that allowed Russian oligarchs to mask their involvement in Western firms through trust funds while still purchasing semiconductors for Moscow.

Fagima, an Italian machine tool manufacturer, was also sanctioned by the US for working with Russian procurement agent Dmitry Alikhanov, who has been added to the US blacklist.

The list also includes companies from the United Arab Emirates that assisted Russia in trading Russian gold, as well as a number of Chinese companies involved in the import of sanctioned items to Russia.

Separately, the US revealed a network of firms set up by Russia to aid its hackers, who were sanctioned by the US in 2018.

This sanctions package affects 16 jurisdictions and over 100 persons and legal entities. The new US sanctions list contains over 400 persons and business entities.

The US Treasury announced the latest major package of sanctions against Russia in June. More than 90 foreign individuals and firms were sanctioned, largely from China and Türkiye, for assisting Moscow in evading sanctions.