New sanctions on Russia

TOPSHOT - US flags representing those who could not attend the inauguration due to Covid-19, flutter in the wind at the Mall before the Inauguration of US President-Elect Joe Biden in Washington, DC on January 20, 2021. (Photo by ROBERTO SCHMIDT / AFP) (Photo by ROBERTO SCHMIDT/AFP via Getty Images)
(Photo by ROBERTO SCHMIDT/AFP via Getty Images)

OAN Roy Francis
8:21 AM PT – Friday, February 24, 2023

The United States, aided by its G7 partners, has imposed new sanctions on Russia on the day marking the one-year anniversary of the war in Ukraine.

The purpose of the sanctions is to undermine Russia’s ability to maintain the war in Ukraine. Over 200 individuals and organizations, that have ties to Russia’s defense ministry, were the targets of the sanctions.

Companies that are being sanctioned are not only based in Russia, but also in Cyprus, Malta, Switzerland, the Untied Arab Emirates, Bulgaria, Czech Republic, British Virgin Islands, and the Bahamas.

Those sanctioned include carbon fiber producers, which is a significant material in building military defense systems. Russia’s technology and electronics sectors have also been targeted by the sanctions, including those who import specialized equipment for the Russian military and defense forces.

Sanctions have also targeted the metal and mining sector of Russia’s economy, as well as Russian financial institutes, arms dealers that are supporting the Russian military, and firms that helped the country evade previous sanctions.

United States Secretary of the Treasury Janet L. Yellen spoke about the new sanctions and the purpose of the U.S. behind the move.

“As the Ukrainian people continue to valiantly defend their homeland and their freedom, the United States is proud to support Ukraine through economic, security, and humanitarian assistance,” she said. “Over the past year, we have taken actions with a historic coalition of international partners to degrade Russia’s military-industrial complex and reduce the revenues that it uses to fund its war. Our sanctions have had both short-term and long-term impact, seen acutely in Russia’s struggle to replenish its weapons and in its isolated economy. Our actions today with our G7 partners show that we will stand with Ukraine for as long as it takes.”

Along with the new sanctions, the Department of Commerce is limiting exports to almost 100 companies located in Russia and other countries, including China, for their role in supporting Russia.

The Defense Department also announced that a new $2 billion aid package will be sent to Ukraine. The new package includes financial aid as well as ammunition and new military equipment to help Ukraine’s air defenses.

The new package includes additional ammunition, along with High Mobility Artillery Rocket Systems, artillery rounds, and munitions for laser-guided missile systems. The Pentagon will also be sending weapons that are able to counter Russia’s unmanned systems, including the Switchblade 600 Kamikaze drones.

This comes days after President Joe Biden had made a trip to Kyiv where, according to reports, he and Ukrainian President Volodymyr Zelenskyy further discussed Ukraine’s request for F-16 fighter jets. Ukrainians claim that they need the jets to counter the Russian military and the predicted springtime offensive.

Biden had previously denied the request for fighter jets from Ukraine, although no further details about the discussion that took place in Ukraine have been released.