White House will crack down on Russian attempts to evade sanctions, Biden security advisor says

White House will crack down on Russian attempts to evade sanctions, Biden security advisor says


Jake Sullivan, White House national security adviser, speaks during an interview at an Economic Club of Washington event in Washington, D.C., U.S., on Thursday, April 14, 2022.

Al Drago | Bloomberg | Getty Images

WASHINGTON — National security adviser Jake Sullivan said Thursday that the Biden administration is focused on ensuring Russia isn’t able to evade punishing global sanctions for its war in Ukraine.

Sullivan, speaking at the Economic Club in Washington, D.C., said the administration is now focusing on enforcing the sanctions already levied against Russia, its officials and elites.

“I mean what we have done is unprecedented in terms of a major economy to take this set of steps across financial sanctions, investment bans, the export controls,” Sullivan said when asked whether the U.S. has exhausted the penalties it can impose against Russia. “But where our focus will be in the course of the coming days is on evasion,” he added.

“As Russia tries to adjust to the fact that it’s under this massive economic pressure, what steps can they try to evade our sanctions and how do we crack down on that?”

President Joe Biden’s top national security adviser added that he expects the White House to announce “in the next week or two” certain targets that are trying to facilitate Russia’s sanction evasion.

In the weeks since Russia’s invasion of its ex-Soviet neighbor, Washington and its allies have imposed rounds of coordinated sanctions vaulting Russia past Iran and North Korea as the world’s most-sanctioned country.

Sullivan reiterated that the U.S. has deep concerns about China’s alignment with Russia and the possibility that the world’s second-largest economy may attempt to help Moscow blunt sanctions.

Sullivan said that the U.S. has not yet observed Beijing providing military assistance to Moscow for its fight in Ukraine.

“It’s something that we constantly monitor and of course we don’t have complete visibility all the time,” Sullivan said. “Russia and China have an economic relationship, and there is continuing economic intercourse between Russia and China. But have we seen a systematic effort to undermine, weaken or defend sanctions at this point? We have not.”



Source

Stocks making the biggest moves after hours: CrowdStrike, American Eagle Outfitters, Marvell Technology, GitLab and more
Finance

Stocks making the biggest moves after hours: CrowdStrike, American Eagle Outfitters, Marvell Technology, GitLab and more

Check out the companies making headlines in after-hours trading. Pure Storage — Shares of the data management and storage company plunged nearly 9% after Pure Storage reported third-quarter adjusted earnings of 58 cents per share that matched consensus expectations, according to LSEG. The company posted revenue for the period of $964.5 million, up 16% year-over-year, […]

Read More
Stocks making the biggest moves midday: Maplebear, Boeing, Credo Technology, XPO, MongoDB & more
Finance

Stocks making the biggest moves midday: Maplebear, Boeing, Credo Technology, XPO, MongoDB & more

Check out the companies making the biggest moves midday: Maplebear — The parent company of Instacart fell nearly 4% after Amazon said it’s testing “ultra-fast” delivery of groceries in Seattle and Philadelphia. These deliveries take about 30 minutes or less, said Amazon. Boeing — The aerospace giant rose 8% after winning a $104.4 million U.S. […]

Read More
Stocks making the biggest moves premarket: MongoDB, Strategy, Signet Jewelers, Credo and more
Finance

Stocks making the biggest moves premarket: MongoDB, Strategy, Signet Jewelers, Credo and more

Check out the companies making the biggest moves in premarket trading: MongoDB — Shares of the developer data platform soared 24% following strong third-quarter results. Adjusted earnings were $1.32 per share on revenue of $628 million, compared to earnings of 80 cents per share on $592 million in revenue expected by analysts polled by LSEG. […]

Read More