The White House published the statement.
“Two years later, we see even more vividly what we’ve known since day one: Putin miscalculated badly,” said Biden.
According to Biden, the American people and people around the world understand that the stakes in this fight go far beyond Ukraine. And 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.”
“Today, I am announcing more than 500 new sanctions against Russia for its ongoing war of conquest on Ukraine and for the death of Aleksey Navalny,” said the US President.
He emphasized that these sanctions would target people associated with Navalny's imprisonment, as well as the Russian financial sector, the military-industrial base, procurement networks, and people who evade sanctions.
The sanctions will also apply to 100 organizations that support for Russia’s war machine: “We are taking action to further reduce Russia’s energy revenues. And I’ve directed my team to strengthen support for civil society, independent media, and those who fight for democracy around the world.”