In particular, sanctions are imposed on 32 legal entities and individuals who made attempts on orders by the Russian government to influence the U.S. presidential election in 2020, as well as other acts of misinformation and interference.
"I, JOSEPH R. BIDEN JR., President of the United States of America, find that specified harmful foreign activities of the Government of the Russian Federation — in particular, efforts to undermine the conduct of free and fair democratic elections and democratic institutions in the United States and its allies and partners; to engage in and facilitate malicious cyber-enabled activities against the United States and its allies and partners; to foster and use transnational corruption to influence foreign governments; to pursue extraterritorial activities targeting dissidents or journalists; to undermine security in countries and regions important to United States national security; and to violate well-established principles of international law, including respect for the territorial integrity of states — constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States. I hereby declare a national emergency to deal with that threat," the statement said.
The measures blacklisted Russian companies, expelled Russian diplomats and placed limits on the Russian sovereign debt market. More penalties could come, although Washington did not want to escalate matters, the Biden administration said.
Biden barred U.S. financial institutions from taking part in the primary market for rouble-denominated Russian sovereign bonds from June 14. U.S. banks have been barred from taking part in the primary market for non-rouble sovereign bonds since 2019.
In concert with the European Union, Britain, Australia and Canada, the Treasury also sanctioned eight individuals associated with Russia’s ongoing occupation and repression in Crimea, which Russia annexed from Ukraine in 2014.