The US is trying to ensure the effectiveness of its sanctions against Russia over its aggression in Ukraine by closing loopholes and persuading other countries to support the restrictions.
“Report” reports that “The Wall Street Journal” wrote about it.
Biden administration officials say the goal of this second phase is to close loopholes that allow the Kremlin to generate revenue and import goods needed to continue the war.
This means targeting foreign banks and cryptocurrency platforms that help Russia access international finance, blocking bank accounts and corporate assets of blacklisted Russian oligarchs, and punishing foreign companies that export dual-use goods to Russia.
Also, the US will try to convince countries like China and India, which do not join the sanctions, to reduce their financial transactions and exports of goods to Russia.