The United States and the European Union announced hundreds of new sanctions against Russia.

For Context: The new sanctions come as Russia’s war with Ukraine reaches its second anniversary, and a week after the death of Alexei Navalny, a prominent Russian critic of President Vladimir Putin, in an Arctic penal colony.

The Details: The new sanctions target Russian firms contributing to the Kremlin's war effort against Ukraine, including drone and chemical manufacturers, machine tool importers, and financial institutions such as the state-owned operator of Russia's Mir National Payment System. Additionally, certain individuals and entities connected with Navalny's imprisonment will be targeted. The EU is also imposing sanctions on foreign companies allegedly exporting dual-use goods to Russia.

Key Quote: President Joe Biden released a statement reading, “These sanctions will target individuals connected to Navalny’s imprisonment as well as Russia’s financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents. They will ensure Putin pays an even steeper price for his aggression abroad and repression at home.”

How The Media Covered It: The new sanctions were covered mildly across the spectrum. BBC News (Center bias) reported that the sanctions are “unlikely to have an impact on Russia's economy.” CBS News (Lean Left bias) reported that Russia’s economy is “expected to grow steadily” despite the sanctions, but that “doesn't mean sanctions overall haven't been effective.” The Washington Times (Lean Right bias) reported that Western countries have imposed numerous sanctions “only to see Moscow find end-runs around the restrictions.” This summary was developed with the help of AllSides' AI technology.