The U.S. Treasury Department issued new sanctions targeting entities involved in Russia’s metals and mining sector, as well as other industries that “enable Russian products and services to continue its war effort and avoid sanctions.” puts Steel, iron and coal mining companies are on the list of announced sanctions
The US Deputy Treasury Secretary said in a statement that Russia has turned its economy into a tool for the Kremlin’s military-industrial apparatus. The actions of the Ministry of Treasury continue today to implement America’s obligations to disrupt the supply chain and payment channels of the Russian military-industrial base
The assets and interests of sanctioned entities based in America are frozen and must be reported to the Foreign Assets Control Office of the Ministry of Treasury. The same applies to any interest in the US that is at least 50% owned by a sanctioned person. Transactions with blocked entities by anyone in the United States are also prohibited. In June, the Ministry of Treasury sanctioned more than 300 individuals and entities both inside and outside of Russia.