The recently enacted financial penalties, will have a significant negative effect on Russian citizens and corporate entities.

Russian President Vladimir Putin declared that as part of Russia’s annexation, 15% of Ukraine would come under Russian rule. In an immediate response to Russia’s annexation, the U.S. placed new sanctions on more than 1000 individuals and business houses involved in the war against Ukraine, as well as on the family members of Security Council members and the Governor of the Russian Central Bank.

According to the U.S. President, The recently enacted financial penalties, will have a significant negative effect on Russian citizens and corporate entities that supported Russia’s invasion of Ukraine financially or politically. He added that he will look forward to signing legislation from Congress that will fund $12 billion more to Ukraine.