The White House has announced additional sanctions against Russia and its ally Belarus, including extending export controls that target Russian oil refining and entities supporting the Russian and Belarusian military.
Among Wednesday's new measures are sanctions targeting 22 Russia defense entities that make combat aircraft, infantry fighting vehicles, electronic warfare systems, missiles, and unmanned aerial vehicles for Russia's military.
The US Commerce Department also announced additional export controls on oil and gas extraction equipment that would hurt Russia's refining capacity over the long term.
The Biden administration, and Western allies, have largely stayed away from hitting the Russian energy sector to avoid causing tremors to the global supply of energy.
The White House, however, said in a statement that US and allies share a strong interest in degrading Russia's status as a leading energy supplier over time.
The latest sanctions imposed on Wednesday include the US closing off its air space to all Russian flights. President Joe Biden previewed that he would making the move in his State of the Union address on Tuesday evening.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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