Biden Administration Imposes Sweeping Sanctions Against Russia for War in Ukraine
On Friday, the Biden administration announced sweeping sanctions against Russia for its involvement in the war in Ukraine, one year after its brutal invasion of the country. The U.S. Department of Treasury, in coordination with allies in the Group of Seven (G7), imposed sanctions on at least 12 Russian banks and the country's mining industry. The U.S. will also increase tariffs on more than 100 Russian metals, minerals, and chemical products, and block nearly 90 companies in Russia and allied countries from purchasing materials like semiconductors, as well as preventing materials from Iranian drones from being used by the Russian military.[0]
The Department of Defense also announced a $2 billion security assistance package for Ukraine to coincide with the anniversary of the war, which includes additional artillery rounds, munitions for laser-guided rocket systems, and unmanned aerial systems.[1] The package also includes new equipment, air defense systems, and ammunition.[2]
The Biden administration’s sanctions also target a dozen Russian financial institutions as well as officials and third-party actors who are helping Russia evade existing sanctions. The Treasury Department is designating three entities involved in expanding Russia’s future energy production and export capacity, and those “engaged in Russia’s illegitimate control of Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP).”[3] The State Department is also announcing steps to impose visa restrictions on 1,219 members of the Russian military for actions that threaten or violate the sovereignty, territorial integrity, or political independence of Ukraine.[4]
The announcement comes on the heels of President Joe Biden’s surprise visit to Kyiv, Ukraine, where he walked the streets with President Volodymyr Zelenskyy and held a virtual meeting with G7 members.[5] There, Biden discussed their coordinated efforts to back Ukraine.
The Biden administration’s aggressive stance against Russia is a direct response to the country’s actions in Ukraine and follows Putin’s announcement that he will suspend Russia’s involvement in the last nuclear treaty with the U.S. It is hoped that the sanctions, export controls, tariffs, and other measures will further degrade Putin’s ability to wage war, reduce revenue for Russia, and reduce U.S. reliance on Russian imports.[6]
0. “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/
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. “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
3. “US Treasury takes ‘one of its most significant sanctions actions to date' on anniversary of Russia's war against Ukraine” CNN, 24 Feb. 2023, https://www.cnn.com/2023/02/24/politics/us-treasury-sanctions-russia-ukraine-war/index.html
4. “United States Takes Sweeping Actions on the One Year Anniversary of Russia's War Against Ukraine – HS Today” HSToday, 24 Feb. 2023, https://www.hstoday.us/ukraine/united-states-takes-sweeping-actions-on-the-one-year-anniversary-of-russias-war-against-ukraine
5. “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
6. “The United States Imposes Additional Sweeping Costs on Russia – United States Department of State” Department of State, 24 Feb. 2023, https://www.state.gov/the-united-states-imposes-additional-sweeping-costs-on-russia/
