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  • Writer's pictureBy The Financial District

Biden Slaps Sanctions vs Russia As War Enters 2nd Year

President Joe Biden's administration announced sweeping new sanctions against Russia on the one-year anniversary of Russian President Vladimir Putin's invasion of Ukraine, Joey Garrison and Rebecca Morin reported for USA Today.

Photo Insert: The White House said that the US will impose sanctions on 200 individuals and entities.

The White House said Friday the US will impose sanctions on 200 individuals and entities, which include both Russian as well as third-country actors in Europe, Asia and the Middle East that are supporting Russia's war efforts. A dozen Russian financial institutions will also be targeted.

White House press secretary Karine Jean-Pierre said Thursday the measures will target "key sectors that generate revenue for Putin," additional Russian banks, Russia's defense technology industry, and actors in third-party countries attempting to evade US sanctions.

In addition, the Department of Commerce will take several export control actions against nearly 90 Russian and third-country companies, including in China, for sanction evasion. Biden will also sign proclamations Friday to raise tariffs on more than 100 Russian metals, minerals, and chemical products.

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