As the war in Ukraine enters its second year, the United States has announced broad sanctions aimed at putting more economic pressure on Russia and limiting Moscow’s access to vital technologies like semiconductors; More than 100 organizations are targeted in the recent restrictions, which apply to both Russia and the rest of the world.
The White House said in a statement on Friday that the sanctions, which target industries like banks and the defense sector, affect more than 200 people and entities, including both Russians and foreign actors in Europe, Asia, and the Middle East who support Russia.
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The White House announced that “a dozen Russian financial institutions, aligned with allies and partners, as well as Russian officials and proxy authorities” who are illegitimately operating in Ukraine, will be among those subject to the new sanctions, which are added to the many layers of previous ones that have already been put in place over the past 12 months.
Additionally, Moscow’s ability to get around earlier sanctions would be restricted by the package of measures.
In response to today’s decision, more than 100 Russian metals, minerals, and chemical products—worth about $2.08 billion to Russia—will be subject to higher tariffs. The price of Russian-made aluminum entering the US market will also go up significantly, according to the White House.
While Ukraine continues to receive support from NATO; The NATO military alliance said in a statement on the anniversary of the start of the Russia-Ukraine war that it is stepping up its political and practical support for Ukraine and will keep doing so for as long as is required.
“We are stepping up our political and practical support for Ukraine as it defends itself against Russia’s invasion, and we will continue to do so for however long is required to ensure Ukraine’s success. In this regard, NATO will continue to work closely with relevant parties, such as international organizations, particularly the EU, and like-minded nations, according to the statement.
NATO nations “remain committed to upholding consistent, global pressure on Russia. They “remain ready to defend every square inch of Allied territory” and “are significantly strengthening our deterrence and defense posture,” according to the statement.
Furthermore, EU leaders pledge fervent support for Ukraine; The European Union will not stop until Ukraine wins the war, the European Council, which unites the national leaders of Europe, declared in a statement.
The council has made it clear that it will continue to aid Kyiv and its allies abroad until it is certain that Ukraine will triumph over Russia.
Didier Reynders, the commissioner for justice in Europe, and Ursula von der Leyen, the president of the European Commission, have both stated that neither European nor international law allows for the seizure of a nation’s sovereign assets. Both officials did however add that the European Union is investigating legal options for seizing frozen Russian assets.
“We’ll keep up the pressure from all sides to get Russia to stop its aggressive war. In order to achieve this, we will adopt a tenth set of sanctions, and we will take action against those who try to evade EU regulations”, according to the statement by the European Council members. The sanction’s effective date of February 24 had already been announced by Von der Leyen.
