Two years ago this Saturday, Russian President Vladimir Putin ordered the full-scale invasion of his Ukrainian neighbor. On the eve of the anniversary (for lack of a better word), the Biden administration rolled out its most comprehensive sanctions package to date.
A total of 500 Russian individuals and entities will now be barred from conducting any business with United States individuals or firms, and any assets they may have under U.S. jurisdiction will be frozen.
“These sanctions will target individuals connected to [Russian opposition leader Alexei Navalny’s] imprisonment as well as Russia’s financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents,” President Joe Biden said in a statement. “They will ensure Putin pays an even steeper price for his aggression abroad and repression at home.”
Of course, this package is just the latest round in what has turned out to be the most restrictive U.S. sanctions regime against a major power since World War II. So many restrictions have been placed on the Russian economy over the last two years that it’s difficult to keep track of them all.
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