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This is the best summary I could come up with:

Wednesday’s package targeted Chinese companies which help Russia pursue its war in Ukraine and raised the stakes for foreign financial institutions which work with sanctioned Russian entities.

The U.S. has sanctioned more than 4,000 Russian businesses and individuals since the war began, in an effort to choke off the flow of money and armaments to Moscow, whose superior firepower has given it an advantage on the battlefield in recent months.

More than 300 new sanctions are largely aimed at deterring individuals and companies in countries including China, the United Arab Emirates and Turkey from helping Moscow circumvent Western blocks on obtaining key technology.

The announcement came shortly before President Joe Biden arrived in Italy where he and other G7 leaders are urgently looking at aiding Ukraine, including turning frozen Russian assets into billions of dollars of support for Kyiv.

U.S. President Joe Biden’s top foreign policy adviser, Jake Sullivan, told reporters on the way to the G7 that the message to China and other countries was that they are “at serious risk of running afoul of the Treasury Department and falling under a sanctions regime.”

The package also aims to hobble the development of Russia’s energy sector and future sources of cash, including Arctic liquified natural gas projects which have been shipped critical LNG technology by a Chinese company.

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