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The Treasury Department announced sweeping new enforcement measures Wednesday to tighten the screws on Russia, including expanding the use of sanctions to inflict pain on outside entities that continue to do business with Moscow, known as “secondary sanctions.”
The push comes as the U.S. and Western allies have struggled to curtail Russia’s war revenue in the more than two years since the start of its war in Ukraine, despite implementing a series of sanctions, bans, and other restrictions aimed at restricting its profits, primarily from its oil and gas exports.