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OFFICE OF THE SPOKESPERSON
OCTOBER 20, 2022
Since Russia launched its unjustified and unprovoked all-out war against Ukraine in February 2022, the United States has worked with Allies and partners around the world to impose an unprecedented range of sanctions and export controls on Russia for its brutal aggression. Moreover, we will continue to impose costs on the Kremlin for as long as its war of aggression continues.
Sanctions and export controls are having significant and long-lasting consequences on Russia’s defense industrial base. Since February 2022, the United States and our partners and Allies have coordinated to use export controls and sanctions to restrict , which has the Russian weapons industry’s ability to produce and stockpile weapons to replace those that have been destroyed in the war.
A few effects include:
In addition, since February 2022, the U.S. government has:
Furthermore, sanctions (administered and enforced by the U.S. Department of Treasury) are having a significant impact on Russia’s ability to wage its unjust war against Ukraine. Specifically, sanctions implemented by the United States along with Allies and partners and allies have immobilized about $300 billion worth of Russian Central Bank assets, limiting the central bank’s ability to aid the war effort and mitigate sanctions impacts. Sanctioned Russian oligarchs and financial institutions have been forced to divest from long-held assets outside Russia. Moreover, sanctions have prompted banks in several countries to curtail ties with the Russian financial sector. Despite benefiting from high energy prices, the IMF still expects Russia’s economy will contract by over 3 percent this year. Lost investment, export controls, and constraints on Russia’s real economy will create a drag on Russia’s growth prospects for years to come. Significantly, U.S. sanctions and export controls have severed Russia’s access to key technologies and industrial inputs that erode its military capability. Since February 2022, the United States has issued approximately 1,500 new and 750 amended sanctions listings, including:
For further information, visit www.state.gov.
By U.S. Mission Poland | 21 October, 2022 | Topics: Events, News