The United States widened its sanctions against Russia Wednesday as G7 leaders prepared to gather in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia’s war machine.and raised the stakes for foreign financial institutions which work with sanctioned Russian entities.
Russia’s military is “desperate for access to the outside world,” said Treasury Secretary Janet Yellen. On Wednesday the U.S sanctioned a Chinese state-owned defense company which officials said had shipped military equipment for use in the Russian defense sector. “The Chinese leadership is not interested in making these sanctions a success,” said Janis Kluge, a Russia sanctions specialist at the German Institute for International and Security Affairs in Berlin
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