The United States announced plans to slap sanctions on over 500 entities implicated in Moscow’s protracted conflict with its neighboring countries.
The Treasury Department’s decision on Thursday signals Washington’s determination to attack “Russia, its enablers, and its war machine.”
According to the AFP, the forthcoming penalties, which will be implemented on Friday, are the greatest single tranche since the start of Russian President Vladimir Putin’s ongoing invasion of Ukraine.
The Treasury spokeswoman emphasized that the sanctions, which were jointly announced by the Treasury and the State Department, are intended to damage Russia’s ability to sustain its military activities.
Since Russia’s invasion of Ukraine in February 2022, the US and its allies have increased attempts to put economic pressure on Moscow, focusing on vital areas like revenue sources and the military industrial complex.
Notably, a coalition made up of the Group of Seven leading economies, the European Union, and Australia has enacted restrictions such as a price ceiling on Russian oil shipments.
The price ceiling, established at $60 per barrel of Russian crude, attempted to reduce war funding while also insuring ongoing oil supply to the global market.
However, recent comments show plans to tighten price ceiling compliance, implying a determined attempt to further isolate Russia economically.
These measures are timed to coincide with the death of Kremlin opposition leader Alexei Navalny, who died last week in a Russian prison. US President Joe Biden reaffirmed plans for sanctions, highlighting their direct targeting of Putin in response to Navalny’s death, describing him as “a man of incredible courage.”
In a related event, the US administration unveiled accusations against a number of wealthy Russians on Thursday, as part of ongoing efforts to block the flow of illegal funds that support Moscow’s war effort. Attorney General Merrick Garland reaffirmed the Justice Department’s commitment to holding those who fuel the violence accountable.
Meanwhile, the White House signaled that it intends to put new sanctions on Iran for its backing for Russia’s invasion of Ukraine.
National Security Council spokesperson John Kirby indicated that the US would take action against Iran for its involvement in the crisis, with more steps possible if Iran sells ballistic missiles to Russia.
As Ukrainian forces confront ammunition shortages in their fight against invading Russian troops, extra financing for Kyiv is still pending in the US Congress, emphasizing the importance of international backing for Ukraine’s defensive efforts.
