US Plans New Russia Export Controls, Sanctions on Key Industries

The United States is planning to impose a new round of sanctions against Russia. President Joe Biden’s administration is planning to impose new export controls and a fresh round of sanctions on Russia. 

The new export controls and sanctions target key industries, and they come nearly one year after Russian President Vladimir Putin launched his full-scale invasion of Ukraine. The measures will target Russia’s defense and energy sectors, financial institutions, and several individuals. 

The U.S. and allied nations are also expected to turn their focus to preventing the evasion and circumvention of sanctions and disrupt support Russia receives from third countries.

As the one-year anniversary of Russia’s war in Ukraine approaches, the U.S. and European leaders are preparing for a war that may stretch long into the future. 

Ukraine’s allies, including the U.S., are rushing to deliver weaponry to turn back the intensified Russian attacks, and to enable the Ukrainian military to take control of the battlefield by the spring. 

The Group of Seven nations and the European Union are also looking to increase their cooperation in enforcing sanctions. 

The European Union is looking at sanctions packages that would force banks and other institutions to report sanctioned Russian assets. It may also include restrictions on Iranian entities that are seen to be providing Russia with drones and other military supplies, as well as extensive trade controls on other goods used by Russia’s military. 

The aim is to increase pressure on companies that may be helping Russia skirt the impact of sanctions, tighten existing measures, increase diplomatic pressure on nations that may aid Moscow, as well as explore future measures and penalties to disrupt the flow of military supplies.

The sanctions from the U.S. come as Biden made an unannounced visit to Kyiv, Ukraine on Monday. The visit was to confirm and solidify U.S. support for Ukraine as the war enters its second year. 

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