U.S. ** Biden signed a new executive order on December 22 to crack down on institutions that provide financial facilities for Russia's defense industry.
Biden signed a new executive order authorizing the U.S. Treasury Department to take action to crack down on financial institutions that facilitate the strengthening of Russia's defense industry and prevent Russian forces from replenishing arms. The executive order will also tighten restrictions on the import of diamonds and seafood from Russia.
U.S. Treasury Secretary Janet Yellen said financial institutions are expected to make every effort to ensure that tax evasion and evasion are not facilitated, intentionally or unintentionally. There will be no hesitation in using the new tools provided by the mandate to take decisive, surgical action against the financial institutions that facilitate the "Russian war machine".
U.S. Deputy Treasury Secretary Adeyemo said the executive order was issued at a critical time. Imposing more sanctions on Russia and Russian procurement networks to hinder Russia's military logistics.
In a statement issued after the December 6 meeting, the G7 leaders said they would work to curb Russia's use of the international financial system to advance its war in Ukraine, pointing the finger at Russian military procurement networks and those who helped Russia secure machine tools, equipment and critical inputs.
According to The Voice of America, the Russian authorities have doubled the defense spending target for 2023, and the total amount will exceed 100 billion dollars, which is 1 3 of Russia's total public spending. According to assessments, Russia has lost more than 13000 pieces of equipment, including tanks, drones, and missile systems.
The White House has been urging the House of Representatives to approve more funding for Ukraine. Biden previously offered a $110 billion aid package for Ukraine, Israel, and other priorities. But aid packages have been repeatedly blocked in Congress.
The US Department of Defense previously said that the available funds to support Ukraine's defense were almost exhausted. Congress is now in recess, and members of Congress are expected to return to Washington in early January 2024.
*: Phoenix Satellite TV's Zhang Beiyuan and Yao Yiwei report from Washington.
Editor: He Ye.