US Announces Sanctions, Export Restrictions, and Security Assistance Package in Coordinated Effort Against President Putin
On Friday, the United States announced a series of sanctions against Russia, targeting key revenue-generating sectors and more than 200 people and entities. The sanctions are part of a coordinated effort with G7 partners and allies to increase pressure on President Putin, make it harder for him to wage his brutal war, and continue degrading the Russian economy’s ability to fuel continued aggression.
The sanctions include a dozen Russian financial institutions and actors helping Russia's defense and technology industry, as well as third-country persons believed to be helping Russia’s sanctions evasion efforts. The US plans to announce “sweeping sanctions against key sectors that generate revenue” for Russia, including the country’s banking, defense, and technology industry. The US Commerce Department is also taking “several export control actions, listing nearly 90 Russian and third country companies, including in China among other countries, on the Entity List for engaging in sanction evasion and backfill activities in support of Russia’s defense sector.”
In addition to the sanctions, the US Department of Commerce will take new actions to restrict exports of US materials and technologies to Russia, blocking many companies in Russia and allied countries like China from purchasing materials like semiconductors, and will take new steps to block materials from Iranian drones from being used by the Russian military. President Biden is also set to sign a proclamation on Friday to raise tariffs on certain Russian imports to the US, including 100 Russian metals, minerals and chemical products worth approximately $2.8 billion.
The Department of Defense (DoD) also announced a $2 billion security assistance package for Ukraine, which includes additional artillery rounds, munitions for laser-guided rocket systems and unmanned aerial systems. The State Department sanctioned those engaged in Russia’s illegitimate control of Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP), noting that Russia’s military attacks on, and subsequent seizure of the ZNPP, have only underscored the global concerns related to nuclear energy security and undermine the Kremlin’s efforts to portray itself as a responsible supplier of nuclear energy products. The State Department also imposed 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.
0. “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
1. “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
2. “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
3. “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