Photo Credit: Evan Vucci/AP

Biden enacts hundreds of new sanctions against Russia

President Joe Biden announced more than 500 new sanctions that target Russia on Friday morning, a week after the death of Russian opposition leader Alexei Navalny. These sanctions come just one day before the second anniversary of Putin’s siege on Ukraine.

“These sanctions 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. They will ensure Putin pays an even steeper price for his aggression abroad and repression at home,” Biden wrote in a statement from The White House.

Many of these sanctions have already been drafted in the wake of the second anniversary of the war, but Navalny’s death has led to several more being added. As Russian President Vladimir Putin is already sanctioned, the new U.S. Treasury Department sanctions prevent specific, targeted entities from conducting business using the U.S. dollar, engaging in business with American citizens and companies, as well as accessing U.S.-based assets. In total, 106 more officials and 88 more entities have been sanctioned. These entities include companies, banks, government agencies, and other organizations.

Accompanying these sanctions are urgent funding measures for Ukraine. The United States and NATO are committed to providing “critical assistance” to Ukrainian forces and condemning Russia for its excessive use of force in this unwarranted invasion. Biden believes that if Putin is not punished for the unjust death and destruction he has caused, nothing with deter him from ending the conflict.

“The American people and people around the world understand that the stakes of this fight extend far beyond Ukraine,” Biden said, “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.”

As of August 2023, U.S. officials estimate nearly half a million casualties have directly resulted from the conflict; however, Kyiv does not release official metrics and Moscow is believed to underreport their deceased and wounded. As Ukraine enters its third year of war with Russia, Biden reaffirms that the United States “stands up for freedom and bows down to no one.”

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