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Biden extends sanctions against Russia for 1 year

Biden extends sanctions against Russia for 1 year President of the United States Joe Biden (Photo: Getty Images)
Author: Daria Shekina

President Joe Biden has extended for one year the validity of certain directives regulating the imposition of sanctions against Russia. These directives pertain to restrictive measures against individuals and companies from the Russian Federation, introduced by Joe Biden, Donald Trump, and Barack Obama, according to the White House press service.

In Biden's statement, it is noted that he has concluded that all these restrictions should remain in effect after March 6, 2024, as the actions and policies covered by these directives continue to pose an extraordinary and unusual threat to the national security and foreign policy of the United States.

This concerns the extension of the directives issued in 2014, 2018, and 2022. It is reported that the validity of the directives imposing sanctions has been extended for one year. The President has informed the US Congress of the decision made.

US sanctions against Russia

The United States began imposing sanctions against Russia after the annexation of Crimea in 2014. Banks, businessmen, politicians, leaders of the so-called Donetsk People's Republic and Luhansk People's Republic, and others fell under American sanctions.

Over the past decade, the American sanctions list has significantly expanded. The latest US sanctions package against Russia was adopted before the second anniversary of the Russian invasion of Ukraine and was published on February 23rd. According to Joe Biden, the new sanctions target over 500 entities.

In particular, these sanctions are aimed at the leading Russian tanker group Sovcomflot for violating the price limit on Russian oil established by the G7 countries, as well as against 14 oil tankers associated with Sovcomflot.