US upgrades sanctions against Russia with global ban on business with 100 entities

The Biden Administration delivered another blow to Russia by upgrading sanctions on nearly 100 entities — including a shipyard and an LNG project — to a global ban on doing business with the entities.

The move by the US Treasury Department represents another ramp-up of sanctions in the waning days of President Joe Biden’s term, with rival Donald Trump taking office on Monday with a vow to bring an end to Russia’s war in Ukraine through negotiations.