U.S. Takes Hard Stance Against Russia on One-Year Anniversary of Ukraine Invasion
The Biden Administration is taking a hard stance against Russia on the one-year anniversary of its invasion of Ukraine, announcing a package of sweeping sanctions and export controls that target the country’s financial institutions, defense and technology industry, and actors in third countries helping Russia evade existing sanctions.
On Friday, the White House announced a new set of sanctions targeting over 200 individuals and entities, including both Russians and third-party actors across Europe, Asia, and the Middle East that are supporting Russia’s war effort.[0] The sanctions will target a dozen Russian financial institutions, as well as actors in third countries that help to evade previously imposed sanctions.[1]
The Treasury Department will also expand its sanctions on Russia’s metals and mining sectors, and the Department of Commerce will take new actions to restrict exports of U.S. materials and technologies to Russia, blocking many companies in Russia and allied countries like China from purchasing materials like semiconductors.[2] The Commerce Department will also list nearly 90 Russian and third-country companies, including some from China, for engaging in sanctions evasion.[3]
It is predicted that President Biden will issue proclamations increasing tariffs on some Russian imports to America.[1] The actions will affect more than 100 Russian metals, minerals, and chemical products, the White House said, with the goal of slashing revenue for Russia and reducing U.S. reliance on those imports.[3]
The Department of Defense also announced an additional security assistance package for Ukraine, providing new equipment, air defense systems and ammunition.[4]
The U.S. is continuing to coordinate with G7 countries to hold Russia accountable and provide aid to Ukraine, taking a hard stance against the country one year after its invasion of Ukraine. The new sanctions and export controls are part of a larger effort to increase the pressure on President Putin, make it harder for him to wage his brutal war, and further degrade the Russian economy’s ability to fuel continued aggression.[4]
0. “Biden announces sweeping sanctions against Russian AND Chinese companies helping Putin's war” Daily Mail, 24 Feb. 2023, https://www.dailymail.co.uk/news/article-11789257/Biden-announces-sweeping-sanctions-against-Russian-Chinese-companies-helping-Putins-war.html
1. “U.S. hits Russia with new sanctions one year after Ukraine invasion” Axios, 24 Feb. 2023, https://www.axios.com/2023/02/24/us-sanctions-russia-ukraine-invasion
2. “U.S. Delivers More Russia Sanctions 1 Year Into War—Here’s What You Need To Know” Forbes, 24 Feb. 2023, https://www.forbes.com/sites/alisondurkee/2023/02/24/us-delivers-more-russia-sanctions-1-year-into-war-heres-what-you-need-to-know/
3. “White House announces additional Russia sanctions, Ukraine aid on anniversary of invasion” The Hill, 24 Feb. 2023, https://thehill.com/homenews/administration/3872123-white-house-announces-additional-russia-sanctions-ukraine-aid-on-anniversary-of-invasion
4. “White House announces new sanctions against Russia on invasion anniversary” POLITICO, 24 Feb. 2023, https://www.politico.com/news/2023/02/24/white-house-announces-sanctions-against-russia-ukraine-anniversary-00084308
