"Today, I am announcing more than 500 new sanctions against Russia for its ongoing war of conquest on Ukraine and for the death of Alexei Navalny, who was a courageous anti-corruption activist and Putin’s fiercest opposition leader," Biden stated.
These sanctions will target those involved with Navalny's imprisonment, Russia's financial and defense sectors, procurement networks, and those bypassing previous sanctions.
Biden continued, "They [the sanctions] will ensure Putin pays an even steeper price for his aggression abroad and repression at home."
The U.S. is also setting new export restrictions on organizations aiding the Russian military covertly.
"We are taking action to further reduce Russia’s energy revenues. And I’ve directed my team to strengthen support for civil society, independent media, and those who fight for democracy around the world," the President added.
Global Response to Russia's Invasion
This announcement came as the UK and the EU Council also introduced new sanctions against Russia, targeting those involved in the war against Ukraine and supporting Russia's military operations.
