1 year into the Ukraine War, Biden announces enormous sanctions against Russia

President Joe Biden's administration announced broad new sanctions on Friday, targeting Russia on the anniversary of one year since Russian president Vladimir Putin's Ukraine War.

The White House said Friday that the United States will impose sanctions on 200 entities.

And individuals including Russian and third-country actors from Europe, Asia, and the Middle East that are supporting Russia's Ukraine War. The White House also announced that a dozen Russian financial institutions are also targeted. White House press secretary Karine Jean-Pierre announced Thursday. That the measures are targeted at “key industries that generate income for Putin,” additional Russian banks. As well as the defense technology industry in Russia.

Additionally to that, also, the Department of Commerce will take

various export control measures against over 90% of Russia. And third-country firms including China in the case of sanctions evasion. Biden will also issue Proclamations to increase the tariffs on over 100 Russian minerals, metals, chemicals, and other products. The announcement comes just as Biden has been scheduled to hold a virtual meeting in person with Ukrainian President Volodymyr Zelenskyy as well as members of the Group of Seven nations to aid efforts.

Takeaways

Through new sanctions and support, Biden is out to demonstrate how Biden and the U.S. and its allies will stand by Ukraine for the duration of time it takes. Resilience for allies was a key aspect of Biden's address Wednesday in Warsaw in commemoration of the one-year anniversary of a conflict that has no end on the horizon.

“Putin is no longer doubting the power that our alliance has,” Biden said. “But he is still skeptical of our faith. He is skeptical of our ability to last. He is skeptical of our support to Ukraine.” Biden declared that Putin “was mistaken” in his assumption that Ukraine would collapse quickly and NATO would break up. Now, Biden wants to show Putin not to be right by demonstrating continued financial and military support.

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