US announces over 500 sanctions against Russia to 'ensure Putin pays an even steeper price for his aggression'

The United States on Friday (Feb 23rd) announced a fresh wave of more than 500 sanctions against Russia. These sanctions announced on the second anniversary of the Ukrainian war, come after the death of Kremlin critic Alexei Navalny in prison.

Vowing sustained pressure to stop Russian President Vladimir Putin's "war machine," President Joe Biden said that the sanctions will target more than 100 "individuals connected to Navalny's imprisonment as well as Russia’s financial sector, defence industrial base, procurement networks and sanctions evaders across multiple continents."

What Biden said

Referring to the Ukraine war and Navalny's death, in a statement Biden said that the sanctions "will ensure Putin pays an even steeper price for his aggression abroad and repression at home."

Biden announced that the US will implement additional export restrictions on nearly 100 entities for aiding Russia and will work towards reducing Russia's energy revenues.

"We are also imposing new export restrictions on nearly 100 entities for providing backdoor support for Russia's war machine," said Biden.

Watch |France's defence minister Lecornu slams Moscow

Russia and Sanctions

Since the start of the Ukraine war, the United States and its Western allies have imposed a slew of measures against Moscow. This includes blocking its financial assets, restricting high-tech exports and even setting an official cap on the sale price of Russian oil exports.

The latest sanctions come after Biden declared that he considers Russian President Putin responsible for the death of 47-year-old Navalny.

Just a day earlier, on Thursday (Feb 22nd) he met with Navalny's wife Yulia Navalnay and their daughter Dasha in California.

After the meeting, he told reporters that the Putin opponent was a man of incredible courage."

Biden's announcement of the latest measures included a plea to Congress for new military aid to Ukraine.

"History is watching. The failure to support Ukraine at this critical moment will not be forgotten," said Biden.

(With inputs from agencies)