The Biden administration on Thursday announced fresh sanctions on Russia and $1 billion in new humanitarian aid for Ukraine.
According to the White House, the new “full blocking sanctions” target 400 “individuals and entities comprised of Russian elites.” The sanctions also hit all 328 members of Russia’s lower parliament, known as the State Duma, and 48 Russian-state-owned military contractors that produce weapons used by Russia’s military.
The White House said the sanctions were imposed in coordination with the EU and the G7 and were announced while President Biden was in Brussels. Since the invasion started, the US and its allies have imposed a series of harsh sanctions aimed at decimating the Russian economy, which hurts ordinary Russians.
In its statement on the sanctions, the White House boasted of the damage the sanctions have done to Russia’s economy. “The economy is forecast to contract as much as 15 percent or more in 2022. This economic collapse of Russia’s GDP will wipe out the past 15 years of economic gains in Russia, according to the Institute for International Finance,” the White House said.
Concerning the new humanitarian aid, the White House said the $1 billion will go towards helping “those affected by Russia’s war in Ukraine and its severe impacts around the world.” On top of the $1 billion, the US announced an additional $320 million to promote “democracy and human rights” in Ukraine and neighboring countries.
The Biden administration also said that the US will be accepting 100,000 Ukrainian refugees. According to the UN, over 3.6 million people have fled Ukraine since Russia invaded on February 24.