The latest restrictions are timed for the second anniversary of the start of Moscow’s military campaign in Ukraine in early 2022
US President Joe Biden has announced new sanctions against Russia ahead of the second anniversary of the start of Moscow’s military campaign in Ukraine.
According to a statement released by the White House on Friday, more than 500 new sanctions will target individuals connected to Russia’s financial sector, defense industrial base, and procurement networks.
The latest punitive measures are also aimed at what the statement describes as “sanctions evaders across multiple continents,” and at individuals connected to the imprisonment of opposition activist Alexey Navalny.
Washington says it has imposed new export restrictions on nearly 100 entities that it accuses of supporting Russia. Action is also being taken to further reduce Moscow’s energy revenues, the statement adds.
President Biden also urged the House of Representatives to pass a bill that includes additional assistance for Ukraine. The new aid package for Kiev, worth $60 billion, most of which is earmarked for weapons, has been stymied in Congress for months.
Friday’s package adds the latest sanctions to thousands targeting Moscow that have been announced by the US and its allies since the start of Russia’s military operation in Ukraine on February 24, 2022.
Despite the piling sanctions pressure, in 2023 Russia’s economy grew 3.6%, the fastest pace in a decade, the Russian Economic Development Ministry said earlier this month. The International Monetary Fund in January forecast a further 2.6% GDP growth for 2024.
