financetom
Business
financetom
/
Business
/
U.S. targets 105 Russian and Chinese firms for aiding Russian military
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
U.S. targets 105 Russian and Chinese firms for aiding Russian military
Aug 24, 2024 4:08 AM

(Reuters) - The United States on Friday added 105 Russian and Chinese firms to a trade restriction list over their alleged support of the Russian military as Washington seeks to keep up pressure on Moscow's war effort in Ukraine.

The companies -- 63 Russian and 42 Chinese as well as 18 from other countries -- were targeted for a host reasons, from sending U.S. electronics to Russian military-related parties to producing thousands of Shahed-136 drones for Russia to use in Ukraine.

Being added to the entity list forces U.S. suppliers to get a difficult-to-obtain license before shipping to the targeted companies. Many of the firms added to the list on Friday were given a special designation that also forces overseas suppliers to get the same U.S. licenses before shipping to the targeted companies.

The moves show the Biden administration is trying to keep up pressure on the companies sustaining Moscow's war in Ukraine despite a raft of Western sanctions aimed at hobbling that effort and amid reports that restricted American technology is still reaching Russia's defense industry.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Restaurant Brands International Prices $1.2 Billion Notes Offering; Reprices Term Loan B
Restaurant Brands International Prices $1.2 Billion Notes Offering; Reprices Term Loan B
Jun 7, 2024
04:47 AM EDT, 06/07/2024 (MT Newswires) -- Restaurant Brands International (QSR) said late Thursday that together with its co-issuers, it has priced an offering of $1.2 billion principal amount of 6.125% first lien senior secured notes due 2029. Net proceeds will be used to fund repayments of debt under the company's term loan B facility, related fees and expenses, and...
Update: Biomea Reports Diabetes Drug Candidate Placed on Clinical Hold; Shares Plummet Premarket
Update: Biomea Reports Diabetes Drug Candidate Placed on Clinical Hold; Shares Plummet Premarket
Jun 7, 2024
04:52 AM EDT, 06/07/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.) Biomea Fusion ( BMEA ) shares were down more than 58% in premarket activity Friday after the company overnight reported that the US Food and Drug Administration notified a full clinical hold was placed on phase I/II trials of its investigational...
Rapport Therapeutics Prices Initial Public Offering
Rapport Therapeutics Prices Initial Public Offering
Jun 7, 2024
04:59 AM EDT, 06/07/2024 (MT Newswires) -- Rapport Therapeutics (RAPP) said late Thursday it priced its initial public offering of 8 million common shares at $17 per share, at the midpoint of its $16 to $18 per share indicative range. The drug developer said its shares will likely begin trading on Nasdaq on Friday under the RAPP ticker, with the...
Airbus builds new A320neo assembly line in historic hangar swap
Airbus builds new A320neo assembly line in historic hangar swap
Jun 7, 2024
PARIS, June 7 (Reuters) - Airbus has started building a new A320neo-family assembly line in Toulouse to replace an older and less efficient facility and help speed up production from next year. The move will not lead to a net increase in the number of assembly lines but is part of plans to modernise and speed output of the best-selling...
Copyright 2023-2026 - www.financetom.com All Rights Reserved