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Biden Announces Over 500 Sanctions on Russia. President Biden announced the sanctions on Feb. 23 in response to the death of Alexei Navalny and Russia's continued war with Ukraine, NBC News reports. The sanctions are intended to target those responsible for Navalny's imprisonment and subsequent death. They will also target the country's "financial sector, defense industrial base, procurement networks and sanctions evaders," NBC News reports. "They will ensure Putin pays an even steeper price for his aggression abroad and repression at home." Additionally, export restrictions will be imposed on nearly 100 entities that have supported Russia's military aggression. The U.S. will also take steps to limit Russia's energy revenues. "I’ve directed my team to strengthen support for civil society, independent media, and those who fight for democracy around the world." President Joe Biden, via statement. The president went on to emphasize an urgent need for Congress to pass the Senate's latest foreign aid package since Ukraine is "running out of ammunition". Deputy Treasury Secretary Wally Adeyemo said that previous U.S. sanctions imposed on Russia have been successful, NBC News reports. "Fundamentally, our strategy does not only pertain to slowing down Russia’s ability to build the weapons they want, it also includes speeding up the Ukrainians' ability to defend themselves by providing them with weapons and resources to build their economy." Deputy Treasury Secretary Wally Adeyemo, via statement. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT