The US Treasury Department on Wednesday announced new sanctions on over 300 entities, including a Russian company based in Belgrade, reported Radio Free Europe.

According to the information posted on the US Treasury Department website, the company BASSIRE GROUP DOO, headquartered in the Belgrade municipality of Stari Grad, is on the blacklist. The company was founded in February 2023 and is engaged in the wholesale trade of computers, computer equipment, and software, reported RFE.

The company owner and director is Russian national Nikolai Levin.

The US Treasury Department said the sanctions aim to prevent Russia from accessing products and services necessary for maintaining military production for the war in Ukraine.

Secretary of the Treasury Janet L. Yellen said “Russia’s war economy is deeply isolated from the international financial system.”

“Today’s actions strike at their remaining avenues for international materials and equipment, including their reliance on critical supplies from third countries. We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software, and IT services,” said Yellen.