President Biden announced on Friday that more than 500 new sanctions will be imposed on Russia. They are aimed at the Kremlin and its enablers in response to the second anniversary of the invasion of Ukraine by Russian President Vladimir Putin and the suspicious death of Russian opposition leader Alexei Navalny.
The United States will work together with global allies to implement the slew of new sanctions, with the intention of limiting Putin's financial resources amid a grinding war of attrition in Ukraine.
Politico has more on the sanctions, which come one week after Navalny's death at a maximum security prison in the Russian Arctic:
“The American people and people around the world understand that the stakes of this fight extend far beyond Ukraine,” Biden said in a statement announcing the sanctions. “If Putin does not pay the price for his death and destruction, he will keep going. And the costs to the United States — along with our NATO Allies and partners in Europe and around the world — will rise.”
The bulk of the sanctions were already in the works for the invasion anniversary, though a few were added this week to target those involved in Navalny's death at an Arctic penal colony. Biden met Thursday with Navalny's widow and daughter in San Francisco and praised her late husband's bravery.
“Russia's financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents,” Biden said. “They will ensure Putin pays an even steeper price for his aggression abroad and repression at home.”
The Treasury Department will impose additional price cap sanctions that will make it more costly for Russia to get around sanctions, Deputy Treasury Secretary Wally Adeyemo told reporters in a Thursday night call previewing the sanctions. He touted the Biden administration's price cap on Russian oil, saying that the Kremlin has invested money on trying to adapt to the sanctions and evade them.
The sanctions will also target third-country providers who help Russia procure valuable weapons components.
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