US steps up Russia sanctions, placing threat of more sanctions on businesses partnering with Russia

The U.S. Treasury Department is expanding the web of sanctions on companies and institutions supporting Russia’s war efforts in Ukraine. The department is re-designating about 100 entities for sanctions and placing sanctions on 15 new entities. A senior Treasury Department official says that under the sanctions, any company that does meaningful business with parts of Russia’s military industrial complex would also risk penalties. The official insisted on anonymity to preview the announcement on a call with reporters Wednesday. The official says removal of the sanctions would require congressional notification. That step could potentially make it harder for the incoming Trump administration to change sanctions without drawing public scrutiny.