US Hits Over 500 Russian Entities With Sanctions, Targeting Military-Industrial Complex And Companies Aiding Ukraine War

The United States is set to impose sanctions on more than 500 Russian entities, marking the second anniversary of Russia’s invasion of Ukraine.

What Happened: The U.S. will impose sanctions on over 500 targets on Friday, Deputy U.S. Treasury Secretary Wally Adeyemo informed on Thursday, as reported by Reuters.

The sanctions, which will be enforced in collaboration with other nations, will focus on Russia’s military-industrial complex and third-country companies that aid Russia in obtaining desired goods. This move is part of the U.S.’s strategy to hold Russia accountable for the war and the death of opposition leader Alexei Navalny.

“Tomorrow we’ll release hundreds of sanctions just here in the United States, but it’s important to step back and remember that it’s not just America taking these actions,” Adeyemo said.

See Also: Biden Vs. Trump: Swing State Pennsylvania’s Voters Favor This Candidate For Presidency, But Poll Data Reveals Potential Setback Factors

The U.S. and its allies have previously announced thousands of sanctions against Moscow following the 2022 invasion of Ukraine. Despite doubts over additional security assistance for Kyiv, the U.S. and its allies are looking to maintain pressure on Russia.

Adeyemo stated, “Sanctions and export controls are geared towards slowing Russia down, making it harder for them to fight their war of choice in Ukraine.” However, he also stressed the need for Congress to provide Ukraine with the necessary resources and weapons to defend itself.

President Joe Biden‘s administration has already utilized previously approved funds for Ukraine, and a request for additional funds is currently pending in the Republican-controlled House of Representatives.

Why It Matters: The U.S. has been actively imposing sanctions on Russia following the death of opposition leader Alexei Navalny. This move comes after a recent meeting between President Biden and Navalny’s family, where he announced major impending sanctions against Russia.

Despite the sanctions, Russia’s economy has shown resilience, with the International Monetary Fund (IMF) forecasting a 2.6% GDP growth for 2024. However, the IMF has also noted that Russia is now in a “war economy,” with military expenditures boosting weapons production and inflation on the rise.

The U.S. and its allies have been actively working to counter Russia’s actions. Despite the sanctions, Russia has found ways to continue its oil trade. In early February, it was reported that Russian oil had reached U.S. shores through a sanction-busting loophole. Additionally, the U.S. and its allies have been collaborating to disrupt Russia’s covert fleet of oil vessels, which the country has been using to bypass sanctions.

Read Next: ‘I Seriously Don’t Know:’ Mark Cuban Claps Back After VC David Sacks Accuses Him Of Supporting Trump’s ‘Show Trials’ And ‘Defending Their DEI Lies’

Vladimir Putin Photo by Harold Escalona on Shutterstock