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

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.