U.S. sanctions 398 firms in more than a dozen countries, accusing them of helping Russia's war effort

US imposes sanctions on firms aiding Russia's war effort, aiming to degrade Russia's military capabilities and support for Ukraine.

The U.S. on Wednesday (October 30, 2024) imposed sanctions on 398 firms across Russia, India, China, and more than a dozen other nations — accusing them of providing products and services that enable Russia's war effort and aid its ability to evade sanctions.

The effort spearheaded by the Treasury and State Departments is aimed at punishing “third party countries” that are accused of providing material assistance to the Kremlin or assisting Russia in evading the thousands of sanctions that have been imposed on the country since its invasion of Ukraine in February 2022.

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Among those sanctioned by the Treasury Department are 274 companies accused of supplying Russia with advanced technology, as well as Russia-based defence and manufacturing firms that produce or finish military products that maintain the weaponry used against Ukraine.

Additionally, the State Department imposed diplomatic sanctions on several senior Russian Ministry of Defence officials and defence companies, a group of China-based companies that export dual-use goods that fill critical gaps in Russia's military-industrial base and entities and individuals in Belarus related to the Lukashenka regime's support for Russia's defence industry.

Treasury's Deputy Secretary Wally Adeyemo said the U.S. and its allies "are unyielding in our resolve to diminish and degrade Russia's ability to equip its war machine and stop those seeking to aid their efforts through circumvention or evasion of our sanctions and export controls.”

Wednesday's action is the latest in a series of thousands of U.S. sanctions that have been imposed on Russian firms and their suppliers in other nations since Russia's invasion of Ukraine. The effectiveness of the sanctions has been questioned, especially as Russia has continued to support its economy by selling oil and gas on international markets.