U.S. Imposes Major New Sanctions on Russia, Targeting Finance and Defense

The United States on Friday unleashed its most extensive package of sanctions on Russia since the invasion of Ukraine two years ago, targeting Russia’s financial sector and military-industrial complex in a broad effort to degrade the Kremlin’s war machine.

The sweeping sanctions come as the war enters its third year, and exactly one week after the death of the opposition leader Aleksei A. Navalny, for which the Biden administration blames President Vladimir V. Putin of Russia. With Congress struggling to reach an agreement on providing more aid to Ukraine, the United States has become increasingly reliant on financial tools to slow Russia’s ability to restock its military supplies and to put pressure on its economy.

Announcing the sanctions on Friday, President Biden reiterated his calls on Congress to provide more funding to Ukraine before it is too late.

“The failure to support Ukraine at this critical moment will not be forgotten,” he said in a statement.

The president added that the sanctions would further restrict Russia’s energy revenues and crack down on its sanctions evasion efforts across multiple continents.

“If Putin does not pay the price for his death and destruction, he will keep going,” Mr. Biden said. “And the costs to the United States — along with our NATO allies and partners in Europe and around the world — will rise.”

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