US and EU announce extensive sanctions against Russia

US President Joe Biden has announced new sanctions against Russia, with over 500 sanctions applying to individuals and entities associated with the Kremlin. The aim is to "increase pressure on Moscow" on the second anniversary of the invasion of Ukraine.

The United States has imposed extensive sanctions on Russia, covering more than 500 individuals and entities.

President Joe Biden emphasized that the reason behind these measures is to intensify pressure on Moscow, especially on the second anniversary of the full-scale attack on Ukraine occurring on Saturday. The White House underscored that thanks to the new sanctions, Putin will face an even higher price.

Joe Biden stated in a release that Washington is striving to support Ukraine, which is currently facing significant arms shortages while U.S. military aid has been delayed for months.

He also urged the House of Representatives to swiftly approve the financial aid package for Ukraine passed by the US Senate "before it's too late."

These restrictions target those accountable for the imprisonment of Alexei Navalny, the Russian opposition figure who recently passed away, along with individuals associated with Russia's financial sector, defense industry, and supply networks. The sanctions will also impact entities involved in bypassing anti-Russian sanctions.

Furthermore, the United States is implementing new export restrictions against 100 entities for aiding the Russian war machine through clandestine channels and is taking steps to further diminish Russia's revenue from energy resource sales. Earlier on Thursday, the US Department of Justice revealed its intention to seize frozen Russian assets totaling $700 million as part of its sanctions policy.

EU Sanctions against Russia

On Friday, the Council of the European Union also approved the 13th package of restrictive measures against the Kremlin.

Josep Borrell, the EU's High Representative for Foreign Affairs, stated, "Today, we are further tightening restrictive measures against the Russian military and defense sector, targeting additional entities in third countries that supply equipment, as well as entities responsible for the illegal deportation and military re-education of Ukrainian children".