US and EU Impose Fresh Sanctions on Russia Over Navalny's Death and Ukraine Invasion

The US announced more than 500 new sanctions against Russia in response to its invasion of Ukraine and the death of opposition leader Alexei Navalny.

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These sanctions target:

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• Russia's main card payment system,

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• Financial institutions,

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• Military entities,

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• Officials involved in Navalny's imprisonment,

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among others.

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Coming a week after Navalny's sudden death in an Arctic prison facility, the measures coincided with a period when US President Joe Biden met with Navalny's widow and daughter in San Francisco. Biden stated that Russia's head of state was "undoubtedly" responsible for Navalny's death.

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The new US sanctions include restrictions on approximately 100 firms and individuals, as well as targeting the state-owned operator of Russia's main payment system Mir, companies supporting Russia's military effort, organizations bolstering the country's future energy production and cooperating with Iran on drone technology.

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The impact of the sanctions on Russia's economy is not expected to be significant, as Russia is already the world's most heavily sanctioned nation. Russian banks and military-industrial enterprises have developed workarounds to evade existing sanctions.

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Few major institutions or sectors remained that were not already subject to US and EU sanctions. The restrictions were expanded to cover more than 4,000 assets and came on the eve of the second anniversary of Russia's full-scale invasion of Ukraine.

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The EU announced a 13th sanctions package targeting nearly 200 companies and individuals involved in supporting Russia's weapons supply or participating in the abduction of Ukrainian children.

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Russia responded by expanding its entry ban list to include EU officials and politicians.

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Key Points

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• The US and EU announced new sanctions against Russia.

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• The sanctions target various sectors including finance, military institutions, and payment systems.

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• No significant impact on Russia's economy is expected; Russia is already the world's most heavily sanctioned country.

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• The sanctions are linked to Navalny's death and Ukraine's invasion.

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• The EU's sanctions target weapons supply and the abduction of Ukrainian children.

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• Russia expanded its entry ban list targeting EU officials and politicians.

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News Link: https://www.bbc.co.uk/news/world-us-canada-68380251