US Unveils Biggest Sanctions Package on Russia Since War Began
- US holds off metals sanctions amid fears of economic chaos
- Russia’s economy still forecast to grow up to 1.5% in 2024
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The US imposed its biggest one-day sanctions package against Russia since the invasion of Ukraine two years ago, targeting more than 500 people and entities in a fresh bid to squeeze the country’s economy and send a message over the death of dissident Alexey Navalny.
Sanctioned people and entities included Russia’s Mir payment system, a major oil-shipping company, and three people linked to Navalny’s death earlier this month in a Russian prison among many other targets. A State Department advisory said the moves were aimed at “imposing additional costs on Russia for both its internal repression and foreign aggression” led by President Vladimir Putin.