U.S. to sanction military procurement network aiding Russia, Yellen says

NUSA DUA, Indonesia, Nov 14 (Reuters) – U.S. Treasury Secretary Janet Yellen has said the United States will impose new sanctions on a transnational network of individuals and companies that seek to acquire military technologies for Russia’s war effort in Ukraine.

Yellen told reporters on the sidelines of the G20 summit in Bali that the sanctions would target 14 people and 28 entities, including financial facilitators, but she declined to provide details on their whereabouts. She said the announcement was scheduled for later Monday.

“This is part of our broader effort to disrupt Russia’s war effort and deny the equipment it needs through sanctions and export controls,” Yellen told reporters.

She declined to provide details of the technologies targeted by the sanctions in an effort to cut off Russian purchases.

The US Treasury has sanctioned major military industrial enterprises in Russia, and the Commerce Department has halted exports of US-made components and US technology that has been used in some Russian military equipment. Yellen said these are already having an impact on the battlefield in Ukraine.

Russia has managed to procure Iranian drones which have been used to attack cities and electrical infrastructure in Ukraine. Iranian military entities and industries are already subject to heavy US sanctions over Tehran’s nuclear development program, and it was unclear whether any of the sanctions related to these drone munitions purchases.

Yellen also said that at the same time, the United States would continue to support Ukraine with financial and economic assistance. The Biden administration has requested an additional $4.5 billion in non-military aid from Ukraine, and Yellen said that once congressional approval is obtained, the Treasury will immediately begin disbursing it to Ukraine.

Reporting by David Lawder; Editing by Jacqueline Wong

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