US hits Russia with 500 new sanctions over Ukraine and Navalny

As the second anniversary of the invasion of Ukraine is around the corner, US President Joe Biden on Friday announced penalties against over 500 targets in Russia.

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On the heels of the second anniversary of the invasion of Ukraine, US President Joe Biden announced penalties on over 500 targets in Russia on Friday, promising constant pressure to halt President Vladimir Putin's "war machine."

Breaking down the panalties 

The Treasury Department has labelled the penalties as the largest single batch since the war's inception. They aim to exact a price for the imprisonment and death of Putin's most outspoken critic, Alexei Navalny, a week ago.

The over 500 sanctions, according to Biden, are aimed at "individuals connected to Navalny's imprisonment as well as Russia's financial sector, defence industrial base, procurement networks, and sanctions evaders across multiple continents." They are anticipated to be unveiled later in the day.

Biden states...

In a statement, Biden added, "They will ensure Putin pays an even steeper price for his aggression abroad and repression at home." "We are also imposing new export restrictions on nearly 100 entities for providing backdoor support for Russia's war machine," he stated.

More on previous sanctions

Since the commencement of the war, the United States and its allies have imposed numerous sanctions on Russia, such as limiting financial assets, limiting exports of high-tech goods, and officially capping the price at which Russia sells its oil. However, because of a political deadlock in Congress, US military assistance—which is vital for Ukraine—has dried up, and Russia has recently made a significant military victory.

Even still, growth in the Russian economy is anticipated to be slower this year as the nation adjusts and becomes more dependent on trade with non-Western nations, particularly China.

The EU declares new sanctions

The EU unveiled its own sanctions list on Friday, targeting over 200 companies and people who are allegedly helping Russia acquire weapons or involved in the abduction of Ukrainian minors—claims that Moscow vigorously contests.
They included the defence minister of North Korea as well as ten Russian companies and individuals engaged in the transfer of North Korean weaponry to Russia.

Accusing Putin of Alexie's death

The 47-year-old Navalny almost escaped a poisoning in 2020 that he put in the hands of government operatives, and Biden has stated that he believes Putin is to blame for his death. On Thursday, Biden announced that he had a private meeting with the widow and daughter of Navalny in California. After meeting with Dasha and Yulia Navalnaya in San Francisco, he told reporters that Putin's late opponent was "a man of incredible courage."

In response to Navalny's murder, several European governments have called on Russian ambassadors, and Britain has sanctioned six individuals who worked at the campaigner's isolated Siberian prison colony. In addition, the White House declared that Washington would soon place additional sanctions on Iran for its support of Russia's invasion.