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Oil and minerals: The United States continues to strengthen sanctions against Russia in the areas of oil, crude oil, and minerals to limit its economic income.
Financial securities services: including sanctions on constituent institutions of the Russian financial system and sanctions on entities that provide raw materials to Russian gold producers to support Russian weapons manufacturing. In addition, foreign financial institutions that directly or indirectly sell, supply, or transfer related items to Russia will also be subject to sanctions.
Aviation and Shipping: The United States reviews and controls transactions, items, and technologies related to aviation and shipping by issuing general licenses.
Technology export control: The United States rigorously reviews exports involving high-tech fields, especially those that may be used for military purposes.
These sanctions not only target individuals and entities in Russia, but also involve companies from other countries, such as some Chinese companies that have been affected by their trade relations with Russia. Overall, the sanctions imposed by the United States are very extensive, covering multiple areas from basic resources to high-tech products, aimed at comprehensively weakening Russia's economic and military capabilities.
The sanctions imposed by the United States on Chinese companies that have trade relations with Russia are mainly reflected in the following aspects:
Expanding the scope of sanctions: On June 12, 2024, the United States significantly expanded the scope of sanctions against Russia, including more than 300 individuals and entities, including some Chinese companies. This indicates that the United States is intensifying its crackdown on Sino Russian trade.
The impact of payment issues: Due to US sanctions, payment issues between Russia and China have become more complex, which has had a serious impact on the automotive trade between China and Russia. For example, in the past two years, Russia has imported cars from China to supply the domestic market, but US sanctions have led to payment difficulties.
Comprehensive Blockade and Sanctions Act: On April 17, 2024, the Chairman of the U.S. House of Representatives' China Select Committee, Gallagher, proposed the "Unrestricted Act," calling for the implementation of "comprehensive blockade and sanctions" on Chinese companies trading with Russia. This proposal further exacerbates the tense relationship between China and the United States over trade with Russia.
Market redistribution trade war: Russian Foreign Ministry spokesperson Maria Zakharova pointed out that the US sanctions on Chinese companies cooperating with Russia are part of the market redistribution trade war, aimed at changing the global trade pattern through sanctions.
Actual sanction effect: Although the trade volume between China and Russia continued to increase in the first five months of 2024, the US sanctions warning has had a significant impact on China's exports to Russia, leading to a decline in China's exports to Russia.