Biden Expands Sanctions on Russia After Death of Putin’s Rival

The Biden administration has announced its largest round of sanctions against Russia, targeting over 600 entities to pressure Vladimir Putin over Ukraine’s invasion and the death of Alexey Navalny. These measures are intended to hold Russia accountable for its aggression and human rights abuses, even as Moscow adapts to previous sanctions.

Dead in Custody

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Alexey Navalny, the largest political opponent to Russian President Vladimir Putin, recently died in a Russian prison, and now Putin is facing consequences for the suspicious circumstances surrounding this tragic event.

New Sanctions

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Since the news of Navalny’s death, the Biden administration announced the largest round of sanctions against Russia since the Ukraine invasion two years ago.

Sanction Targets

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These new sanctions will target over 600 entities, including the Russian military industry, officials connected to Alexey Navalny’s death, and firms aiding the war effort through various means, such as drone capabilities and the national payment system.

A Coordinated Effort

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The sanctions were coordinated with the UK and the EU, focusing on individuals and companies across multiple continents, including China, the UAE, Vietnam, and Liechtenstein.

Targeting Specific Markets

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The sanctions are meant to target places that support Russia’s military efforts without targeting Russia’s sovereign assets or the fertilizer market.

The intention is to disrupt Russia’s financial sector, defense industrial base, procurement networks, and sanctions evaders.

Export and Visa Restrictions

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The sanctions include export restrictions and visa restrictions targeting Russian authorities involved in the mistreatment of Ukrainian children, with a total of over 4,000 entities now sanctioned.

Russia’s Adapting Economy

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Despite being the most sanctioned country, Russia has adapted to evade these restrictions and maintain its economy through alternative global partnerships, finding buyers for its oil, gas, and minerals, especially in Asia.

Western Technology

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The sanctions aim to further isolate Russia from Western markets and technology, especially since Ukrainian officials have continued to find Western technology in captured Russian drones.

A Serious Response

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President Biden emphasized the sanctions as a response to Navalny’s death in an Arctic prison and Russia’s ongoing aggression in Ukraine, aiming to make Putin face steeper consequences for his actions domestically and abroad. 

A Steeper Price

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Biden said, “These sanctions will target individuals connected to Navalny’s imprisonment as well as Russia’s financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents,” and “They will ensure Putin pays an even steeper price for his aggression abroad and repression at home.”

Continuing Legacy

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President Biden even met with Navalny’s widow and daughter in California to console them after their loss. After meeting with the family, Biden said, “I assured them his legacy will continue to live around the world, and we in the United States are going to continue to ensure that Putin pays a price for his aggression abroad and repression at home.” 

Ukrainian Support

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After Navalny’s death, concerns were raised about Ukraine’s ability to resist Russian forces indefinitely, with Biden criticizing the lack of additional aid from the Republican-led House.

He emphasized the importance of continued support for Ukraine. The failure to support Ukraine could embolden Putin and increase costs for the U.S., NATO allies, and global partners.

Standing Strong

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Biden said, “The failure to support Ukraine at this critical moment will not be forgotten. Now is the time for us to stand strong with Ukraine and stand united with our Allies and partners.”

Going Forward

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The sanctions and international legal actions, including an arrest warrant from the International Criminal Court for Putin, highlight the ongoing efforts to hold Russia accountable for its war crimes.

These actions also reinforce the international community’s determination to counter Russia’s military aggression and human rights abuses, such as the deportation of Ukrainian children.

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The post Biden Expands Sanctions on Russia After Death of Putin’s Rival first appeared on From Frugal to Free.

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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.

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