On Friday, US President Joe Biden will sign a decree allowing Washington to impose sanctions on financial institutions that help Russia evade sanctions. This was reported by US Treasury Secretary Janet Yellen to Reuters.
The new decree also allows Washington to restrict imports of goods from Russia processed in third countries, such as seafood and diamonds, as part of measures to combat sanctions evasion.
According to senior US presidential administration officials, the new order will tell financial institutions that they must either stop providing financial support to companies that supply products to the Russian defense sector or face significant sanctions.
This order, according to officials, will provide the Treasury and its allies with new tools to combat the networks that Moscow is creating to circumvent sanctions through the use of shell companies and "knowing and unknowing financial intermediaries."
The regulation will come into effect immediately after Biden signs the order on Friday.
Earlier, the United States has repeatedly warned companies about evading US sanctions imposed on Russia, including firms in the United Arab Emirates, Turkey and other countries, accusing them of helping Moscow circumvent these measures.
