US issues new sanctions on Russia

The United States on Friday imposed wide-ranging sanctions on Russia over its declared annexation of parts of Ukraine, targeting hundreds of people and companies, including those in Russia’s military-industrial complex and lawmakers.

Washington acted after Russian President Vladimir Putin on Friday proclaimed the biggest annexation in Europe since World War Two, declaring Russian rule over 15% of Ukraine territory occupied by Russian forces.

“We will rally the international community to both denounce these moves and to hold Russia accountable. We will continue to provide Ukraine with the equipment it needs to defend itself, undeterred by Russia’s brazen effort to redraw the borders of its neighbor,” U.S. President Joe Biden said in a statement.

The latest sanctions come on top of sweeping measures already imposed by the United States and allies this year that have already crippled Russia’s international trading and local economy. But they stop short of Russia’s energy industry, the country’s largest source of hard currency.

In a speech on Friday, Putin criticized the West as neo-colonial and Satanist; Ukraine said it would fast-track its application to join NATO, the U.S.-led Western military alliance.

Guidance from the U.S. Treasury and Commerce departments warned that anyone outside Russia, including companies, that provide political, economic or material support to Moscow faced a heightened risk of sanctions._Agencies