US Adds Sanctions on Russian Semiconductor and Shipping Companies

[Asia Economy New York=Special Correspondent Joselgina] The Biden administration has imposed sanctions on nearly 30 Russian companies and individuals, including Russia's largest semiconductor manufacturer. This is part of additional sanctions against Russia for its invasion of Ukraine, targeting the aerospace, shipping, and electronics sectors.

On the 31st (local time), the U.S. Treasury Department announced that it would add 21 Russian companies, including semiconductor manufacturer Micron, and 13 related individuals to the new sanctions list.

Assets held in the U.S. by those subject to sanctions will be immediately frozen, and transactions with U.S. companies and individuals will be halted. Some of these companies have been identified as "shell companies" (companies with no assets or business activities, existing only in name) established to evade U.S. sanctions.

U.S. Treasury Secretary Janet Yellen stated in a press release, "Russia has not only invaded Ukrainian territory but also attacked innocent civilians," emphasizing, "We will continue sanctions against Russian President Vladimir Putin's 'war machine' until this senseless war ends." She also stressed that these sanctions would apply to Russia's aerospace, shipping, and electronics sectors.

The Wall Street Journal (WSJ) reported, "Recently, the U.S. and other Western countries have entered a new phase of sanctions against Russia," adding, "The focus is on enhancing the effectiveness of existing sanctions and closing loopholes to prevent Russia from evading them." Europe, which is highly dependent on Russian energy, remains cautious about imposing sanctions on Russian crude oil and natural gas.