The U.S. Treasury, commerce and justice departments are making a renewed push on countries and individuals that are helping Russia evade western sanctions and get hold of vital but restricted equipment such as semiconductors, the Financial Times reported. The move comes amid fears Russia is funneling imports through countries such as the United Arab Emirates, Turkey, China and Uzbekistan to fuel its war on Ukraine. “Those who attempt to prop up Putin’s war machine by evading our export controls and sanctions will be held accountable,” said Matthew Axelrod, assistant secretary of commerce for export enforcement, in a statement cited by the paper. The three U.S. agencies have issued a “compliance note” on the “use of third-party intermediaries or transshipment points to evade Russian- and Belarussian-related sanctions and export controls.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.