On Tuesday, the US Treasury issued a general license that authorizes transactions that would permit sending funds to support what it described as "humanitarian projects" in Ukraine or Russia despite sanctions against Moscow.

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A text from the license reads that the general license would allow "(1) Activities to support humanitarian projects to meet basic human needs in Ukraine or the Russian Federation, including drought and flood relief; food, nutrition, and medicine distribution; the provision of health services; assistance for vulnerable or displaced populations, including individuals with disabilities and the elderly; and environmental programs." 

Furthermore, the license authorizes numerous other transactions, including transactions in support for "democracy-building," education, international exchanges, health and food security projects in Ukraine and Russia. 

This decision comes in parallel with news that the European Union and the United States will be strengthening sanctions against Russia soon - the sanctions will affect the energy sector of Moscow, according to the secretary of state at the Foreign Ministry of France. 

Clement Beaune told the French LCI broadcaster that "Today, new sanctions against Russia were discussed between the United States, major European powers and international partners. It was decided that the sanctions would be strengthened in the coming days. These restrictions will affect energy resources, in particular oil."

Beaune's rationale is that restricting oil supplies from Russia are necessary to "stop funding the war in Ukraine."

Eliminate the competitors 

Yesterday, the US Treasury announced that it wants to dismantle Russia's "war machine" by disrupting its defense industry and supply chain - in other words, to incapacitate the Russian economy. 

"The next phase of our work will be to take apart Russia’s ‘war machine’ piece by piece by disrupting their military-industrial complex and its supply chain," said the Deputy Treasury Secretary, Wally Adeyemo, in a virtual discussion organized by the Peterson Institute for International Economics.

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Earlier this month, US President Joe Biden said in response to Russia's special military operation in Ukraine, the United States and its allies will continue to ratchet up economic costs on the country and further isolate it.

Furthermore, he also said the sanctions imposed on Russia have wiped away Russia's economic development over the last 15 years.

"Our sanctions are lucky to wipe out the last 15 years of Russia's economic gains and because we have cut Russia off from importing technologies like semiconductors and encryption security and critical components of quantum technology that they need to compete in the 21st century. We are going to stifle Russia's ability as an economy to grow for years to come," Biden said in an address to North America’s Building Trades Unions (NABTU) Legislative Conference.

In a similar context, Adeyemo "offered" an ultimatum, saying that sanctions can be reversed if Russia changes its behavior. This is quite peculiar considering that repeated studies keep showing the ineffective impact of sanctions. 

Read more: US sanctions on Russia likely to boomerang, drive inflation higher: Banker