The Biden administration has announced additional sanctions against Russia as well as additional support for Ukraine on the one-year anniversary of the invasion.
Support for Ukraine includes $9.9 billion in grant financing “to help Ukraine meet the critical needs of its citizens, including healthcare, education, and emergency services.”
The White House also announced sanctions for “over 200 individuals and entities, including both Russian and third-country actors across Europe, Asia, and the Middle East that are supporting Russia’s war effort.”
The US Treasury Department on Friday said it took “one of its most significant sanctions actions to date” to crack down on those aiding Moscow’s war against Ukraine, targeting Russia’s metals and mining sector, its financial institutions, its military supply chain, and individuals and companies worldwide that are helping Moscow avoid existing sanctions.Â
Friday’s sweeping actions are meant fill in gaps in existing sanctions that have been imposed over the past year of the war and are intended to impair “key revenue generating sectors in order to further degrade Russia’s economy and diminish its ability to wage war against Ukraine,” according to a White House fact sheet.
The latest tranche of Treasury Department sanctions target a total of 22 individuals and 83 entities, according to a news release, and they were taken in coordination with the Group of Seven, an organization of leaders from some of the world’s largest economies: Canada, France, Germany, Italy, Japan, the United Kingdom and the US.
In addition to the sanctions, the US Commerce Department on Friday “will take 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,” the fact sheet said.Â
Friday’s Treasury sanctions specifically target individuals and companies based outside of Russia that are connected to sanctions evasion, “including those related to arms trafficking and illicit finance,” the Treasury news release said.
