White House announces new sanctions against Russia on invasion anniversary

Source: Politico | February 24, 2023 | Kelly Hooper

The sanctions will target actors tied to Russia’s defense and technology industry, the country’s future energy capabilities and its metals and mining sector.

The White House on Friday announced a slate of new sanctions against Russia to mark the one-year anniversary of the country’s invasion of Ukraine.

The Treasury and State departments will implement sweeping additional sanctions aimed at further degrading the Russian economy, the White House said in a news release. The new sanctions will target more than 200 individuals and entities — including both Russians and third-party actors across Europe — as well as Russian officials, proxy authorities illegitimately operating in Ukraine and a dozen Russian financial institutions.

“President Putin started this illegal war, and he has the power to end it,” Secretary of State Antony Blinken said in a statement Friday. “The United States stands strongly with Ukraine as it defends itself, and we will continue to do so until Ukraine’s sovereignty is respected and the people of Ukraine can shape their chosen, democratic future in freedom and peace.”

The sanctions will target actors tied to Russia’s defense and technology industry, the country’s future energy capabilities and its metals and mining sector. The White House also announced it will restrict exports to the country and raise tariffs on Russian products.

“These sanctions, export controls, and tariffs are part of our ongoing efforts to impose strong additional economic costs on Russia,” The White House said in the release. “We will continue to work with our allies and partners to use all economic tools available to us to disrupt Russia’s ability to wage its war and degrade its economy over time.”

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