US expands Russia sanctions, targets chips sent via China

The U.S. dramatically expanded sanctions on Russia, targeting China-based companies selling semiconductors to Moscow and threatening foreign financial institutions dealing with Russia’s war economy with losing U.S. access. It also targeted Russia’s financial infrastructure, including the Moscow Exchange, which suspended dollar and euro trading. The moves aim to undercut Russia’s military capabilities as G7 leaders prepare to discuss further support for Ukraine at an upcoming summit. AP