The United States has announced plans to impose sanctions on more than 500 targets involved in Russia’s war in Ukraine.
The US Treasury Department said measures would hit “Russia, its enablers, and its war machine”.
It said it is the “largest single tranche since the start of Putin’s further invasion of Ukraine.”
Washington will also impose new export restrictions on nearly 100 entities for providing support to Russia and take action to further reduce Russia’s energy revenues, US President Joe Biden said on Friday.
“They will ensure Putin pays an even steeper price for his aggression abroad and repression at home,” Biden said of the sanctions.
It comes after the death of Russian opposition figure Alexei Navalny, who died in a remote prison in the country last week.
After meeting Navalny’s widow Yulia and daughter Dasha in California, Mr Biden said on Thursday that “we’re going to be announcing sanctions against Putin, who is responsible for his death, tomorrow”.
Deputy US Treasury Secretary Wally Adeyemo told the Reuters news agency on Thursday that the sanctions will also be taken in partnership with other countries who are looking to keep up the pressure on Russia over its war on Ukraine.
“Tomorrow we’ll release hundreds of sanctions just here in the United States, but it’s important to step back and remember that its not just America taking these actions,” Adeyemo said.
Washington has been coordinating with its European allies in its efforts to cut Russia off from the global economy.
The European Union on Friday announced its 13th package of sanctions against Russia, banning nearly 200 additional entities and individuals accused of involvement in the two-year conflict.
“Today, we are further tightening the restrictive measures against Russia’s military and defence sector,” said EU foreign policy chief Josep Borrell. “We remain united in our determination to dent Russia’s war machine and help Ukraine win its legitimate fight for self-defence.”
On Wednesday, the UK announced that it would sanction six Russians in charge of the Arctic penal colony, where Mr Navalny died, in order to hold to account "those responsible for Navalny's brutal treatment".
