US imposes new restrictions on Russia, also bans consulting and accounting services

The United States announced new sanctions against Russia on Sunday, targeting management consulting, accounting services and media outlets funded directly or indirectly by the state, IANS reported. Among the new restrictions are export controls on equipment and machinery such as bulldozers.

The announcement follows an agreement between the G7 countries to “increase” Russia’s costs by collectively taking further action.

A White House fact sheet says the sanctions in place are “already taking a heavy toll on the Russian economy and our export controls have strangled Russia’s access to critical technologies and supply chains. it needs to support its military ambitions”.

The United States and its G7 partners also pledged “to phase out or ban the import of Russian oil.” This group of countries includes some of the largest importers of Russian oil such as Germany and Japan.

“It will hit the main artery of (Russian President Vladimir) Putin’s economy hard and deny him the revenue he needs to fund his war,” the White House said in the backgrounder. “The G7 is also committed to working together to ensure a stable global energy supply while accelerating our efforts to reduce dependence on fossil fuels.”

The new restrictions announced by the United States target three of the most-watched Russian TV channels that are also directly or indirectly controlled by the government – ​​the joint-stock company Channel One Russia, the TV channel Russia-1 and the company by shares NTV Broadcasting Company. “The three stations have been among the largest recipients of foreign revenue, which trickles down to Russian state revenue,” the fact sheet says.

The United States has also banned American citizens and companies from providing management consulting and accounting services to Russia. “These services are essential for Russian corporations and elites to create wealth, thereby generating revenue for Putin’s war machine, and attempt to hide that wealth and evade sanctions,” the White House said.

In addition, the United States will impose new export controls on Russia, this time targeting “a wide range of inputs and products, including wood products, industrial engines, boilers, motors, fans and ventilation equipment, bulldozers and many other items with industrial and commercial applications”. ”.

The controls already in place have severely affected Russia’s efforts to replenish its weapons and military equipment. Its main tank manufacturers, Uralvagonzavod Corporation and Chelyabinsk Tractor Plant, are said to have stopped production due to a lack of foreign components. The United States also said, citing reports, that more than 200,000 Russians, many of them highly skilled, have fled the country.

Kristan F. Talley