U.S. imposes new sanctions on Russia that also affect Chinese companies

The U.S. government announced Friday new sanctions against Russia for the invasion of Ukraine. This new package of sanctions imposed by the US administration of Joe Biden affects Russian banks, the military industry and access to semiconductors.

The White House assures that the new sanctions affect more than 200 individuals and companies in Russia and other countries around the world. The Biden administration will restrict U.S. companies from exporting products to about 90 companies in Russia and other countries, including China.

Washington charges that products such as semiconductor chips are being used for “activities of sanctions evasion And in support of Russia’s defense sector.”

U.S. to raise tariffs as well On Russian metals, minerals and chemical products., which will eventually cost Moscow some $2.8 billion, according to the White House.

“These sanctions, export controls, and tariffs are part of our ongoing efforts to impose heavy economic costs additional costs on Russia,” a White House spokesman has said on ABC.

“We will continue to work with our allies and partners to use all available economic tools to disrupt Russia’s ability to wage its war and cripple its economy over time,” he added.