“US set to impose new sanctions against Russia and China on Fridayactions including Russia’s deployment of Iranian drones in Ukraine, alleged human rights abuses by both nations and Beijing’s support for alleged illegal fishing in the Pacific, according to officials familiar with the matter. “, reported the Wall Street Journal (WSJ) first thing on Friday.
Outstanding Information
Most of the planned sanctions will be imposed under the Magnitsky Law, named after a whistleblower who died in a Moscow jail after accusing officials of corruption.
By using these powers to sanction senior government, military, and business officials accused of human rights abuses and corruption, the United States claims it aims to hold them accountable and deter others.
The sanctions will freeze all assets they have under US jurisdiction, prevent them from traveling to the United States, and prohibit business relations with them..
For government officials and businesses, the measures may complicate international travel and financing.
By cutting off companies’ access to the world’s major markets, sanctions can destabilize their operations and, in some cases, force their dissolution..
The Chinese and Russian embassies in Washington did not immediately respond to requests for comment, but their officials have in the past rejected US sanctions against their governments as provocations, meddling in sovereign affairs and legal overreach by the United States.
Among the targets are officials allegedly responsible for Russian filtration camps for Ukrainians trapped behind the front lines, where groups including Human Rights Watch have denounced the military torturing citizens and committing other war crimes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
