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On the eve of the second anniversary of the war in Ukraine, the situation stays grim. Joe Biden, a critical supporter of Kyiv, is currently implicated in a domestic political battle with Republicans over a $61 billion aid package for Ukraine. Meanwhile, Europe, though attempting to help, falls short of providing the required support to help President Volodymyr Zelensky fend off Vladimir Putin’s aggression. The suggested European aid of 50 billion euros, spread over several years, cannot compensate for the lack of American support. Ukraine is left with no option but to persevere amidst the invasion, wishing for a resolution to Biden’s domestic challenges. In reaction to recent developments, including the tragic loss of Alexei Navalny, Biden has announced a new wave of sanctions aimed at Moscow.
On Friday, February 23, after meeting with Navalny’s widow and daughter in San Francisco, Biden pledged that Putin would pay a steep price for his actions. Though the details of their discussion were not disclosed, Biden hailed Navalny’s bravery and his family’s courage. He subsequently revealed over 500 new sanctions targeting individuals connected to Navalny’s imprisonment, the Russian financial sector, defence industry, and entities involved in evading sanctions.
The U.S. administration also intends to affect exports of almost 100 entities supporting the Russian war effort and intends to further diminish Russia’s energy sector revenues. These measures extend to companies and operators from 26 nations, including China and Germany, identified for supporting Russia’s war efforts or assisting in sanction evasion.
The Treasury Department stressed targeting a key component of Russia’s financial infrastructure and entities across various regions and sectors, including technology companies involved in semiconductors, optics, and information systems. Further, the Russian payment system Mir, which eased Russia’s financial autonomy from international sanctions, will be sanctioned.
Biden’s statement underscored Putin’s underestimation of global and Ukrainian resilience, stressing the strategic errors in his calculations regarding the invasion. This comprehensive package of sanctions, the most extensive since the onset of the conflict, aims to further isolate Russia and honor Navalny’s memory by tightening the noose around Moscow’s ability to sustain its war efforts.
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