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US Unleashes Massive Sanctions against Russia's Invasion of Ukraine

Written: 2024-02-24 13:25:11Updated: 2024-02-24 14:02:36

US Unleashes Massive Sanctions against Russia's Invasion of Ukraine

Photo : YONHAP News / Reuters

Anchor: The United States and the European Union have announced new sanctions against Russia for its invasion of Ukraine and the death of Russian opposition leader Alexei Navalny. A South Korean company was also put on the U.S. trade restrictions list for obtaining American products for Russia's eventual use. 
Kim Bum-soo has more 

Report: The U.S. government on Friday unleashed over 500 sanctions against Russia.

Speaking at the White House on the eve of the second anniversary of Russia's invasion of Ukraine, U.S. President Joe Biden said, "We can't walk away now."

[Sound bite: US President Joe Biden] 
"We can’t walk away now. And that’s what Putin is betting on. He’s betting on we’re going to walk away. That’s why I’ll be speaking to the G7 folks — some of the heads of the European Union and NATO today. That’s why I’m announcing more than 500 new sanctions — (applause) — in response — in response to Putin’s brutal war of conquest, in response to Alexei Navalny’s death.”

This is the most extensive sanctions package since the war broke out, including measures against Russia's military-industrial complex, energy production and its main credit card payment system Mir, an alternative to Visa and Mastercard that cut service in Russia.

[Sound bite: US President Joe Biden] 
“They will ensure Putin pays an even steeper price for his aggression abroad and repression at home.”  

Around three dozen entities and individuals from various countries including China and Vietnam have also been sanctioned for their ties to businesses that provide materials to Russia's military. 

Alongside the White House’s announcement, the U.S. Commerce Department put 93 entities to its trade restriction list, including South Korea’s Daesung International Trading, which is accused of obtaining U.S.-made machine tools and parts for Russian users.

The move comes in partnership with sanctions from the European Union, which targeted nearly 200 individuals and entities. Those involved in the shipping of North Korean weapons to Russia are sanctioned, including North Korea's defense minister and its Missile General Bureau.

Calling the EU sanctions “illegal”, Moscow's foreign ministry banned some EU citizens from entering the country for providing military assistance to Ukraine. 

Moscow has not immediately responded to the U.S. sanctions.
Kim Bum-soo, KBS World Radio News.

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