Feb 24, 2023 - World

U.S. hits Russia with new sanctions one year after Ukraine invasion

President Biden exiting Air Force One at Joint Base Andrews in Maryland on Feb. 22.

President Biden exiting Air Force One at Joint Base Andrews in Maryland on Feb. 22. Photo: Mandel Ngan/AFP via Getty Images

The United States announced new sanctions on Friday against Russia and entities in third-party countries that the White House said are supporting the Kremlin's war effort in Ukraine.

Why it matters: The actions mark one year since Russia's full-scale invasion of Ukraine and include additional security and infrastructure packages for Kyiv.

Driving the news: The sanctions, which the White House said come in coordination with other members of the G7, will target over 200 individuals and entities, including a dozen Russian financial institutions.

  • President Biden is also set to sign a proclamation on Friday to raise tariffs on certain Russian products imported to the U.S., including 100 Russian metals, minerals and chemical products worth about $2.8 billion.

Zoom in: The Treasury Department announced new sanctions against at least 12 Russian banks and the country's mining industry.

  • The Department of Defense announced a $2 billion security assistance package for Ukraine on Friday, which includes additional artillery rounds, munitions for laser-guided rocket systems and unmanned aerial systems.
  • The Department of Energy announced its third infrastructure package for Ukraine, which will include critical transmission grid equipment that will be delivered in early March.

The big picture: The actions come just days after Biden returned from an unexpected trip to Kyiv and a day after the United Nations General Assembly approved a resolution calling for Russia to withdraw its forces from Ukraine.

  • China's government on Friday called for a cease-fire between Russia and Ukraine and for the start of peace talks to end the yearlong war.

What's next: Biden is expected to meet with other G7 leaders and Ukrainian President Volodymyr Zelensky virtually on Friday.

Go deeper: Preparing for Putin's long war

Editor's note: This article was updated to include an announcment of sanctions from the Treasury Department.

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