WASHINGTON — President Joe Biden’s administration announced sweeping new sanctions Friday against Russia on the one-year anniversary of Russian President Vladimir Putin’s invasion of Ukraine.
The White House said Friday the United States will impose sanctions on 200 individuals and entities, which include both Russian as well as third-country actors in Europe, Asia and the Middle East that are supporting Russia’s war efforts. A dozen Russian financial institutions will also be targeted.
White House press secretary Karine Jean-Pierre said Thursday the measures will target “key sectors that generate revenue for Putin,” additional Russian banks, Russia’s defense technology industry and actors in third-party countries attempting to evade U.S. sanctions.
In addition, the Department of Commerce will take several export control actions against nearly 90 Russian and third country companies, including in China, for sanction evasion. Biden will also sign proclamations Friday to raise tariffs on more than 100 Russian metals, minerals and chemical products.
The moves come as Biden is scheduled to meet virtually with Ukrainian President Volodymyr Zelenskyy and leaders of the Group of Seven nations to coordinate assistance efforts.
- Friday’s meeting among G-7 nations will be the first since Putin announced he was suspending Moscow’s participation in New START, a strategic nuclear arms reduction treaty, following Biden’s surprise visit to Ukraine.
- Biden called Putin’s New START decision “a big mistake.”
- Biden will also announce additional economic, energy and security assistance to help Ukraine’s military efforts against Russia, Jean-Pierre said.
- During his unannounced visit to Kyiv on Monday, Biden pledged an additional $460 million in security assistance to the former Soviet ally but has resisted Zelenskyy’s request for F-16 fighter jets.
More: Biden calls Putin’s New START suspension a ‘big mistake.’ What is the nuclear arms treaty?
Through new sanctions and assistance, Biden is out to show that the U.S. and allies will stand with Ukraine for as long as it takes.
Resilience among allies was a major theme of Biden’s speech Wednesday in Warsaw, commemorating the one-year mark of a war that has no end in sight.
“Putin no longer doubts the strength of our coalition,” Biden said. “But he still doubts our conviction. He doubts our staying power. He doubts our continued support for Ukraine.”
Biden said Putin “was wrong” in assuming Ukraine would quickly collapse and NATO would fracture. Now, he wants to prove Putin wrong again by demonstrating sustained economic and military support.
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More: Putin suspends nuclear arms treaty as US-Russia tensions build amid Ukraine war anniversary