“If Vladimir Putin does not pay the price for death and destruction, he will keep going and the cost to the United States, our NATO allies, and partners in Europe and around the world will rise.” With those words, President Joe Biden announced on Friday the imposition of a near 600-sentence package targeting individuals and entities both inside Russia and globally.
This marks Washington’s largest sanctions salvo since Moscow’s full‑scale invasion of Ukraine began two years ago. The president said the measures respond to what he described as a “continuing war of conquest” and to the death of dissident Aleksei Navalny in prison, calling him a “brave anti‑corruption activist and the fiercest opposition leader to Putin,” whom he blames for Navalny’s death.
Officials note that the move comes as legislation intended to fund further aid to Ukraine remains stalled in Congress, facing Republican opposition to approving an additional $60 billion for Kyiv. And with concerns about a total embargo on Russian oil or seizing already frozen Russian assets, the pressure on Moscow remains tightly calibrated, using targeted sanctions to try to slow the Kremlin’s military effort.
So far, the sanctions’ success appears mixed. The war goes on, and the Russian economy not only withstands pressure but is buoyed by defense spending. Anonymous White House sources cited by The Wall Street Journal acknowledge the immediate impact may be limited. Several analysts, including Eswar Prasad, a trade and economics professor at Cornell University quoted by The New York Times, say the package has significant symbolic value even as real economic effects are nuanced.
Details
In a statement marking the war’s second anniversary, Biden outlined measures affecting individuals tied to Navalny’s imprisonment, as well as the financial sector, the defense industrial base, and those assisting Moscow in evading sanctions through trade and economic channels or supporting its military apparatus. “The American people and people around the world know what is at stake in this struggle goes far beyond Ukraine,” he said.
State Department, Treasury, and Commerce summaries provide specifics. With Navalny, three individuals were targeted: the warden of the IK-3 penal colony where Navalny died, the head of the regional prison service, and the director of Russia’s Federal Penitentiary Service.
The bulk of the sanctions targets the financial and defense sectors. The punitive measures hit the state operator that runs the national payments system Mir, which has been used to bypass international systems, along with banks, investment firms, and fintech companies.
The sanctions also bite two of Russia’s largest revenue earners: a transport and logistics company serving the armed forces (SUEK) and a leading producer of specialized steel (Mechel).
The aim is to restrict Russia’s access to tools critical for advanced technology and production, and to reach suppliers across the defense supply chain, from lubricants to batteries.
Over two dozen actors in Europe, Asia, and the Middle East are named for helping Russia evade sanctions, with visa restrictions tightened for Russian authorities involved in deportations of Ukrainian children and their confinement inside Russia.
Sanctions in Europe and the United Kingdom
Alongside the United States’ package, the European Union announced its thirteenth round of penalties, adding to the broader pressure. The EU measures blacklist about 200 individuals and entities aiding Russia’s weaponry efforts, with a focus on drone component networks and, for the first time, Chinese companies. The package also targets officials, judicial actors, and others deemed responsible for the deportation and “re-education” of Ukrainian children.
The United Kingdom has also announced sanctions targeting suppliers to Russia’s munitions chain and six individuals connected to the prison where Navalny died.