U.S. Slaps Russia With New Sanctions on One-Year Anniversary of Ukraine Invasion

One-year anniversary Russia’s invasion in UkraineThe United States is hitting Russia with new economic sanctions to stop it from continuing to wage war. 

The U.S. Treasury Department has announced that it will impose new, severe sanctions on Russia’s metals and mining sectors. The U.S. seeks to prevent Russia from obtaining its metals and mining sector in coordination with its allies and G7 partners. President Vladimir Putin’s According to the Treasury Department, Russia has the ability to acquire the capital, materials and technology necessary to continue its war against Ukraine.

More than 200 people and organizations from multiple countries have ties with Russia.  

The firms targeted include those who are producers of carbon fibre, a key material for building defense systems.

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Russian President Vladimir Putin. On February 24, 2023 (the one-year anniversary of Russia’s invasion in Ukraine), the Treasury Department announced a new round sweeping sanctions against companies and individuals tied to Russia’s defense sector. (Mikhail Klimentyev. Sputnik. Kremlin Pool Photo via AP / AP Images

Russian financial institutions will also be hit, including a top ten bank, as well as firms that are accused of helping Russia to evade the current sanctions and arms dealers supporting Russia. This is all part of an effort to disrupt military supply chain. This round is unlike previous sanctions. 

“As the Ukrainian people continue to valiantly defend their homeland and their freedom, the United States is proud to support Ukraine through economic, security, and humanitarian assistance,” Janet L. Yellen, Secretary of the Treasury. 

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“Our actions today with our G7 partners show that we will stand with Ukraine for as long as it takes,” Friday’s announcement by Janet Yellen, Treasury Secretary, was made  (Kevin Dietsch/Getty Images / Getty Images)

“Over the past year, we have taken actions with a historic coalition of international partners to degrade Russia’s military-industrial complex and reduce the revenues that it uses to fund its war. Our sanctions have had both short-term and long-term impact, seen acutely in Russia’s struggle to replenish its weapons and in its isolated economy. Our actions today with our G7 partners show that we will stand with Ukraine for as long as it takes,” She added. 

Friday’s announcement by the Defense Department included a $2 billion aid package to Ukraine. This will include artillery ammunition, new Unmanned Aerial Systems and Counter-Unmanned Aerial Systems equipment. These items will help strengthen Ukraine’s air defenses. 

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According to the White House, President Joe Biden will increase tariffs on Russian goods worth $2.8 billion that generate revenue for his administration.  (AP Photo/Evan Vucci, File / AP Newsroom)

Additionally, The White House The Department of Commerce has announced it will reduce exports to Russian and third-country businesses, including those in China, as a retaliation against Russia’s defense industry. 

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Biden will increase tariffs on over 100 Russian metals and minerals as well as chemical products that are worth $2.8 billion. This is a targeted attack on Russian commodities that provide revenue to the Kremlin. According to the White House, these tax increases are justified. “carefully calibrated to impose costs on Russia while minimizing costs to U.S. consumers.” 

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