Export Controls on US and Russian Oil Companies... Belarus Also Subject to Sanctions

[Asia Economy New York=Special Correspondent Joselgina] The Biden administration announced on the 2nd (local time) that it will impose export controls targeting Russian oil companies.

The White House unveiled additional sanctions against Russia and Belarus related to Russia's invasion of Ukraine.

First, export controls will be imposed on Russian oil companies, which are a key source of support for the Russian military. The plan is to restrict the export of technology necessary to support Russia's long-term oil refining capabilities through export controls on crude oil and gas extraction equipment.

Additionally, 22 Russian defense-related institutions will be targeted for sanctions. This includes manufacturers of fighter jets, infantry fighting vehicles, electronic warfare systems, missiles, and unmanned aerial vehicles. The White House stated, "Comprehensive sanctions will be imposed on the Russian defense sector," adding, "This measure will significantly impact Russian weapons development and production companies."

Furthermore, as announced by President Joe Biden in his State of the Union address the previous day, the sanctions package includes a ban on Russian aircraft entering and using U.S. airspace. The White House expects this to further isolate Russia and apply additional economic pressure.

On the same day, the White House also announced export controls on Belarus, located north of Ukraine. This is a measure to prevent items, technology, and software that could be used for military purposes from reaching Russia through Belarus.

Along with this, organizations supporting the militaries of Russia and Belarus will also be subject to sanctions. This includes institutions involved in or contributing to security, military, and defense.

The White House stated, "More than 30 countries, accounting for over half of the global economy, have announced sanctions and export controls against Russia. Russia will become increasingly isolated," adding, "Governments worldwide, including Russia, are identifying and tracking assets such as yachts and luxury apartments owned by President Putin's close associates and their families." It also emphasized, "Belarus will be held accountable for enabling President Putin's invasion of Ukraine."

This content was produced with the assistance of AI translation services.