Finance

Biden Imposes 500 New Sanctions Against Russia

U.S. President Joe Biden Friday announced Washington would issue more than 500 new sanctions targeting Russia as the United States seeks to increase pressure on Moscow to mark the second anniversary of its war in Ukraine.

The United States will also impose new export restrictions on nearly 100 entities for providing support to Russia and take action to further reduce Russia’s energy revenues, Biden said in a statement.

The measures seek to hold Russia to account over the war and the death of opposition leader Alexei Navalny, Biden said, as Washington looks to continue to support Ukraine even as it faces acute shortages of ammunition and U.S. military aid has been delayed for months in Congress.

“They will ensure Putin pays an even steeper price for his aggression abroad and repression at home,” Biden said of the sanctions.

Friday’s measures will target individuals connected to Navalny’s imprisonment as well as Russia’s financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents, he said.

The sanctions are the latest of thousands of targets announced by the United States and its allies following Russia’s Feb. 24, 2022, invasion of Ukraine, which has killed tens of thousands and destroyed cities.

“Two years into this war, the people of Ukraine continue to fight with tremendous courage. But they are running out of ammunition. Ukraine needs more supplies from the United States to hold the line against Russia’s relentless attacks, which are enabled by arms and ammunition from Iran and North Korea,” Biden said.

“That’s why the House of Representatives must pass the bipartisan national security supplemental bill, before it’s too late.”


© 2024 Thomson/Reuters. All rights reserved.

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