US announces blocking sanctions against Russian defense sector

The US authorities announced the introduction of blocking sanctions against the Russian defense sector, which will affect 22 organizations, TASS reports citing a statement by the White House press service.

“As a result of these measures, Russian companies involved in the development and production of weapons will incur significant costs. In general, the sanctions will affect 22 structures related to the defense sector, including firms producing combat aircraft, infantry fighting vehicles, electronic warfare systems and drones for the Russian army, ”the message says.

In addition, Washington will introduce additional sanctions against organizations that support the armed forces of Russia and Belarus.

“We will continue to create costs together with allies and partners until [президент РФ Владимир] Putin continues to escalate,” the document emphasizes.

In connection with Russia’s actions in Ukraine, the United States, European Union (EU), United Kingdom, Canada, Japan, South Korea, Australia, New Zealand and Switzerland have imposed sanctions against Russia. They affected most sectors of the economy, restrictions were imposed on banks, major enterprises and government agencies, in addition, Russia was denied access to foreign financing and capital markets.

At the same time, the US and the EU limited the access of the Russian Central Bank to its international reserves. According to analysts, the sanctions could affect about half of the $643.2 billion in reserves (as of February 18). Against the backdrop of what is happening, the Central Bank has sharply raised the key rate to a historically record 20% per annum. Banks raised interest rates on loans and deposits.

On February 21, Russian President Vladimir Putin announced the recognition of the Donetsk and Lugansk People’s Republics (DNR and LNR). He signed federal laws on the ratification of treaties of friendship, cooperation and mutual assistance with these territories, including military assistance. On February 24, Russia announced the start of a special military operation in the Donbass. Putin called the purpose of the operation “the protection of people who have been subjected to bullying and genocide by the Kiev regime for eight years.” At the same time, he noted that Russia has no plans to occupy Ukraine, but Moscow will strive for the demilitarization and denazification of this country.

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