Novotroitsk Chromium Compounds Plant halts production due to sanctions
One of Russia's largest enterprises, the Novotroitsk Chromium Compounds Plant, announced it would suspend production from March 14 due to raw material shortages caused by Western sanctions. The plant was among Russia's biggest suppliers of chromium and chromium compounds, critically important for artillery manufacturing and repairs. Previously, the Economic Security Council of Ukraine had highlighted the strategic importance of chromium supplies to Russia; now we are seeing the direct results of sanctions imposed by the U.S. and EU.
Trump administration strengthens pressure on Russia
The U.S. has not renewed license 8L, which previously allowed Russian banks to conduct energy payments through American financial systems. This could complicate international operations involving purchases of Russian oil and potentially increase global energy prices.
From now on, full blocking sanctions—without exceptions—apply to nine Russian banks: VEB, Sberbank, FC Otkrytie, VTB, Sovcombank, Alfa-Bank, Rosbank, Zenit Bank, and Bank Saint Petersburg. The sanctions also apply to Russia’s Central Bank and the National Clearing Center—the critical settlement institution of the Moscow Exchange.
EU extends sanctions against Russia
The European Union has extended sanctions for six months against 2,400 Russian individuals and entities, despite initial objections from Hungary. Budapest dropped its objections after several individuals were removed from the sanctions list, including Gulbakhor Ismailova, Vyacheslav Moshe Kantor, and Mikhail Degtyarev. Had sanctions not been extended, around €60 billion of Russian assets could have been unfrozen in the EU.
Russian arms exports down by 64% – SIPRI
According to the Stockholm International Peace Research Institute (SIPRI), between 2020 and 2024, Russian arms exports dropped by 64%. This decline is due to Western sanctions and Russia’s inability to ensure stable arms supplies abroad amid increased domestic military demands. India—Russia’s primary weapons customer—has decreased its share of Russian arms imports from over 70% to 36%, while increasing imports from France to 33%.
Russia continues importing Western microchips via China and Hong Kong
Despite sanctions, Russia continues importing critical Western microchips through intermediaries in China and Hong Kong. Hong Kong-based companies Analog Technology and Icscan Electronic, and Chinese firm Berton Electronics, regularly supply components to Rostec subsidiary "Roselectronics." These parts ultimately support Russia’s military production, including weapons used against Ukraine.
Russia resumes use of sanctioned tankers for oil exports
Moscow has resumed using tankers previously sanctioned by the U.S. to deliver oil to China. For the first time in over a year, three sanctioned vessels loaded Russian oil and departed from Russian ports. This allowed Russia to reduce transportation costs and partially stabilize its oil revenue.
U.S. refuses to establish G7 task force against Russia’s "shadow fleet"
The Trump administration blocked a Canadian initiative to create a special G7 task force designed to combat Russia’s "shadow fleet," which Moscow uses to bypass Western oil sanctions. According to Bloomberg, this decision reflects a shift in Trump’s approach towards international organizations.
Goldman Sachs and JPMorgan again offer ruble-linked assets
U.S. financial giants Goldman Sachs and JPMorgan have resumed offering clients investments linked to the Russian ruble. Analysts from these banks forecast continued strengthening of the ruble, which has risen by 20% since early 2025. Bloomberg suggests this reflects improving U.S.-Russia relations.
Major German companies refuse to return to Russia, even after sanctions
Germany’s leading companies—Volkswagen, Siemens, Bosch, and Adidas—have stated they have no plans to return to the Russian market, even if sanctions are fully lifted. The German manufacturer Trumpf explicitly declared it would never resume business in Russia under any circumstances, citing high political and economic risks.
U.S. threatens new sanctions if Russia refuses ceasefire
Republican U.S. Senator Lindsey Graham warned Russia of possible new sanctions if the Kremlin rejects the 30-day ceasefire proposed by Washington. Graham stressed that potential sanctions could also target countries continuing to purchase Russian oil, gas, or uranium.
More news is available in the Monitoring of the Russian information space by the Economic Security Council of Ukraine.
