UPDATE - Biden announces over 500 new sanctions against Russia over Ukraine war, death of Navalny

ADDS MORE DETAILS

By Servet Gunerigok and Michael Hernandez

WASHINGTON (AA) - US President Joe Biden on Friday announced over 500 new sanctions against Russia over the two-year war in Ukraine and last week’s death of opposition figure Alexey Navalny, targeting Moscow's financial and defense sectors.

"If Putin does not pay the price for his death and destruction, he will keep going. And the costs to the United States – along with our NATO Allies and partners in Europe and around the world – will rise," said Biden in a statement.

Biden said the sanctions will target individuals linked to Navalny’s imprisonment before his death as well as Russia’s financial sector, defense industrial base, procurement networks, sanctions evaders across multiple continents and over 100 entities who have been "providing backdoor support for Russia’s war machine."

Among the blacklisted entities are the National Payment Card System Joint Stock Company, which the Treasury Department described as a "major cog" in Russia's financial system. The firm is owned by Russia's Central Bank, and is a major instrument in facilitating payments within Russia and abroad.

It is used to operate Russia’s Mir National Payment System, an electronic funds transfer system created in 2017 that the US has said is used to evade Western sanctions.

The Biden is also sanctioning is a drone procurement network that has helped Moscow to obtain Iranian suicide drones for use in Ukraine, and which is in the midst of ramping up production of the Iranian drones within Russia itself.

The Joint Stock Company Special Economic Zone of Industrial Production Alabuga currently assembles Geran-2 drones that were shipped from Iran, and is helping Russia to develop its ability to produce them domestically, the Treasury said. It is currently owned and operated by the government of Tatarstan, an federal republic within Russia.

The Albatros OOO, Limited Liability Company Drake and Alabuga Development OOO are also being sanctioned for their roles in allegedly aiding Russia's drone program.

Many of the firms' executives and subsidiaries are also being placed under financial penalties.

In conjunction with the sanctions rollout, Biden said Ukraine is running out of ammunition and urged the House of Representatives to pass funding for Ukraine in its battle against Russia.

"Ukraine needs more supplies from the United States to hold the line against Russia’s relentless attacks, which are enabled by arms and ammunition from Iran and North Korea," he said. "That’s why the House of Representatives must pass the bipartisan national security supplemental bill, before it’s too late."

"History is watching. The failure to support Ukraine at this critical moment will not be forgotten," he added.

After multiple fits and starts, on Feb. 13 the Senate passed a bill with military aid to Ukraine, Israel, and Taiwan, but House Speaker Mike Johnson has refused to bring it to the floor for a vote.