The United States began on Tuesday to apply new sanctions against Russia agreed with the other members of the G7, which target the Russian military industry and involve a ban on imports of gold from that country.
These provisions “strike to the heart of Russia’s ability to develop and deploy weapons and technology used in Vladimir Putin’s brutal war of aggression against Ukraine,” the Treasury Department said in a statement.
The sanctions target Russian state army Rostec and other critical defense sector companies, military units and officials involved in abuses in Ukraine, the Treasury added.
“We reaffirm our commitment to working with our partners and allies to impose severe additional sanctions in response to Russia’s war on Ukraine,” said Treasury Secretary Janet Yellen.
The “actions of the G7 members this week further limit the Russian Federation’s access to technology that is critical to its Armed Forces,” Yellen said.
The measures freeze assets of 70 entities and 29 individuals and prohibit them from carrying out financial transactions with US institutions.
In addition, the United States tries to avoid the purchase of American, Japanese and European defense components by Russian individuals seeking to evade sanctions.
As part of sanctions agreed with the G7, Washington banned imports of gold from Russia, the country’s main export behind hydrocarbons, the Treasury said. The measure excludes gold that is already outside Russia.
The United States also raised tariffs on more than 570 types of Russian goods.
“These measures are carefully calibrated to impose costs on Russia while minimizing costs for American consumers,” said Secretary of State Antony Blinken.