U.S. hits Russia with new sanctions due to Ukraine war
The United States issued new sanctions against Russia and its allies on the first anniversary of the Ukraine war Friday. Russia invaded Ukraine a year ago in February after moving its army near the latter’s border for allegedly training purposes. That was only a ruse, though. A year later, the war still continues, bringing more destruction to Ukraine.
The U.S. aims to control exports and tariffs to undermine Russia’s ability to wage war. Moreover, Washington announced that it would aid Kyiv with another $2 billion to purchase weaponry. The latter is preparing to move on to the offensive in the spring. However, this aid did not include the F-16 fighter jets that Kyiv had specifically requested.
U.S. President Joe Biden plans to meet with leaders of the G7, as well as Ukraine President Volodomyr Zelenskiy, today. They will discuss how they can aid the Ukrainians to get better results. America joined with the G7 allies to stop Russia’s aggression. They started by imposing sanctions that targeted 200 entities, and individuals, as well as a dozen Russian financial institutions. In addition, the countries planned how to counter Moscow’s efforts to circumvent the sanctions imposed by Europe and the U.S.
Russia tried to use gas as leverage, cutting supply to the eurozone. Despite that, the EU maintained its sanctions against the aggressor country.
How will the new sanctions work?
The G7 aimed the sanctions at targets in Russia, as well as “third-country actors” across Eurozone, the Middle East, and Asia that are currently supporting Moscow’s war effort.
Washington stated that they would sanction countries, businesses, or individuals tied to Russia’s defense and technology industry. That includes those responsible for supplying Russia with sanctioned items or enabling it to evade sanctions.
Furthermore, U.S. Treasury Secretary Janet Yellen declared today that the department would impose new sanctions targeting Russian individuals, financial institutions, and firms. However, she did not offer more detailed information.
