President Joe Biden on Friday announced more than 500 new sanctions on Russia over its war in Ukraine and the death of Russian opposition leader Alexei Navalny last week in prison.
Biden said the sanctions would target those connected to Navalny’s imprisonment as well as Russia’s financial sector, defense industrial base and procurement networks.
“They will ensure Putin pays an even steeper price for his aggression abroad and repression at home,” Biden said in a statement of the sanctions. Biden noted the sanctions are timed with the two-year anniversary of Russia’s invasion of Ukraine.
The U.S. is also imposing export restrictions on nearly 100 entities that support Russia’s military efforts and taking action to reduce Russia’s energy revenues, Biden said.