On Wednesday, the U.S. State and Treasury Departments introduced sanctions targeting 300 individuals and entities supporting Russia’s military operations in Ukraine. The State Department sanctioned 100 targets across various sectors vital to Russia’s war capabilities. Concurrently, the Treasury sanctioned 200 individuals and entities, both within and outside of Russia, and prohibited certain software and IT services.

“These targets include those involved in the development of Russia’s future energy, metals, and mining production and export capacity; sanctions evasion and circumvention; and producing material needed to support Russia’s war effort,” stated U.S. Secretary of State Antony Blinken. He also emphasized actions against those responsible for the forced transfer, re-education, and deportation of Ukrainian children.

The Treasury Department noted that its targets span regions including Asia (such as China), the Middle East, Europe, Africa, Central Asia, and the Caribbean. “Russia’s war economy is increasingly isolated from the global financial system, compelling its military to seek external resources. Today’s sanctions target their remaining international material and equipment supply routes, including reliance on third countries,” Treasury Secretary Janet Yellen commented.

Both departments highlighted that these sanctions are in line with G7 commitments to increase pressure on Russia for its unprovoked aggression against Ukraine. Yellen remarked that these measures heighten risks for financial institutions engaged with Russia’s economy, block paths for evasion, and reduce Russia’s ability to access foreign technology, equipment, software, and IT services.

Authorized by President Joe Biden, the Treasury expanded sanctions on five Russian financial institutions to include their international branches. This includes Promsvyazbank’s branches in Beijing, Bishkek (Kyrgyz Republic), and New Delhi (India); Vnesheconombank’s locations in Beijing and Mumbai; Sberbank’s branches in Beijing, New Delhi, and Mumbai; and VTB’s offices in New Delhi, Beijing, and Shanghai. The VTB Capital Holdings branch in Hong Kong is also now sanctioned.

Blinken voiced concerns about the significant volume of exports from China that bolster Russia’s military-industrial base. Consequently, the State Department has expanded sanctions on a range of dual-use goods supplied by China that support Russia’s war production. Additionally, sanctions have been extended to Russian financial infrastructure, including public market trading by the Moscow Exchange, and several other financial entities such as the National Clearing Center, Russian National Reinsurance Company, National Settlement Depository, and gas industry insurer Sogaz.