Posted 12/22/2023, 12:31:55 PM
Biden Targets Russian Defense Industry Funding in New Sanctions
- Biden signs executive order giving Treasury authority to target financial institutions facilitating Russia's defense industry
- Order aims to restrict Russia's ability to restock military arsenal depleted after nearly 22 months of war in Ukraine
- Also tightens existing restrictions on Russian diamond and seafood imports
- Comes weeks after Biden proposed $110B wartime aid package for Ukraine, Israel, other priorities
- U.S. says Russia on track for record defense spending in 2023 after 75% rise in first half of year