The US will impose sanctions on more than 500 Russian targets

The United States plans to impose sanctions on more than 500 targets on Friday as it responds to Russia over the death of opposition leader Aleksei A. Navalny, the largest package in a series of economic restrictions since the invasion of Ukraine two years ago. This is what a spokeswoman for the Ministry of Finance said.

The new measures, which will be introduced by the Treasury and State Departments on Friday morning, come after the White House signaled this week that it was preparing “major” punishments following Mr Navalny’s recent death in a Russian prison. It is not clear which sectors or individuals the Biden administration intends to target, a crucial variable in the ultimate scale and effectiveness of the sanctions.

As the war approaches its third year, the Biden administration has become increasingly dependent on using its financial tools to try to damage and isolate the Russian economy. It has worked with allies from the Group of Seven countries to limit the price at which Russian oil can be sold on global markets, frozen hundreds of billions of dollars in Russian central bank assets and introduced trade restrictions to try to block the flow of technology. and equipment Russia uses to supply its military.

The United States has worked closely with Europe in its efforts to cut Russia off from the global economy. This week, the European Union unveiled its 13th round of sanctions on Russia, banning nearly 200 people and entities that have helped Russia acquire weapons from traveling or doing business within the bloc. Britain this week also announced sanctions on companies linked to Russia’s munitions supply chain, and on six Russians accused of running the Arctic prison where Mr Navalny died.

Despite efforts to put economic pressure on Russia, the country has largely weathered the restrictions. China, India and Brazil have bought Russian oil in record quantities, and spending on the war effort has boosted the Russian economy, which grew faster than expected last month, according to the International Monetary Fund.