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President Biden has announced that the US will impose over 500 new sanctions on Russia, marking two years since Russia’s invasion of Ukraine and responding to Alexei Navalny’s death.

In a statement, President Biden said, “If Putin does not pay the price for his death and destruction, he will keep going. And the costs to the United States—along with our NATO Allies and partners in Europe and around the world—will rise.”

The sanctions focus on undermining Putin’s war capabilities in Ukraine, affecting Russia’s financial and defense sectors, and targeting individuals associated with Navalny’s imprisonment. Biden explained, “The package to be announced Friday will include sanctions targeting individuals connected to Navalny’s imprisonment.” In addition, the US plans to implement nearly 100 export restrictions and target Russia’s energy profits aiming to financially squeeze Russia’s ability to continue the war.

Biden also called for Congress to pass a $95 billion national security supplemental, primarily for US weapons production to support Ukraine. He said, “Ukraine needs more supplies from the United States to hold the line against Russia’s relentless attacks.”

Despite the sanctions, Russia continues to hold roughly 15-20% of Ukrainian territory and has demonstrated its willingness to continue the war.