The United States has intensified its sanctions against the metals and mining sector in Russia, targeting companies and individuals involved in supporting the invasion of Ukraine, according to federal agencies.
On Friday, the Treasury and State Departments announced a broad set of sanctions affecting approximately 400 entities. These measures aim to disrupt Russia’s ability to sustain its war effort and evade existing sanctions.
The latest sanctions focus on several key Russian steel companies, including Evraz affiliates and PAO Magnitogorskiy Metallurgicheskiy Kombinat (MMK), Russia’s largest steel producer. The measures also target iron ore and coking coal providers.
In a statement, the Treasury Department highlighted the goal of reducing Russia’s revenue from metals, in line with commitments made by President Biden and G7 leaders. The sanctions specifically address firms involved in steel, iron, and coal mining, as well as auxiliary companies providing specialized services to these sectors.
Previously sanctioned entities such as MMK, Mechel, TMK, and OMK were included in earlier rounds of sanctions related to the Ukraine conflict. The latest announcement, timed to coincide with Ukrainian Independence Day on August 24, expands the list to include additional companies.
