Russia Scoffs At Biden’s Latest Sanctions Package

The Biden administration’s latest round of “sweeping” sanctions against Russia over the war with Ukraine was met on Sunday with derision from Moscow.

Over 100 new penalties were levied by Washington against the Kremlin, but officials there said the White House “shouldn’t hold its breath.” Russian authorities further admonished Washington by warning “they will never defeat us.”

The International Monetary Fund expects Russia’s economic growth for 2023 to be larger than either the U.S. or E.U.

The U.S. Treasury Department released a statement declaring the latest sanctions are aimed at Moscow’s “energy production and revenue, the metals and mining sectors, defense procurement and those involved in supporting Moscow’s war effort.”

The department added the moves are meant to disrupt or sever Russia’s global supply chain for important items, fracture its industrial base and stymie its technological progress.

Aside from industrial targets, the U.S. also moved against seven banks based in Russia. An executive for one of the institutions was sanctioned as was a Russian-based financial infrastructure firm.

Janet Yellen, Biden’s Treasury Secretary, said the moves proved the administration’s “resolve” to disrupt Russia’s military effort.

But Russian Foreign Ministry spokesperson Maria Zakharova told the TASS news agency that the U.S. actions are a further example of the West attempting to inflict “a strategic defeat on Moscow.”

Dmitry Peskov, a Kremlin spokesman, told Russian journalists that sanctions do create concerns. However, the nation has learned throughout the course of the war to hedge against such risks.

U.S. Treasury officials said they are coordinating with other nations to ensure the Kremlin is unable to evade the sanctions and export controls. Western sanctions since the Feb. 2022 invasion of Ukraine have also targeted Russia’s strategic partners.

New penalties are expected to be levied against Moscow by the E.U. These are believed to include restrictions on exporting chemicals, diamonds and welding machines among other products.

While the West says its fight with Russia is on the battlefield, President Vladimir Putin offered a wildly different theory. He said military support for Ukraine and sanctions against Moscow are a plot to divide the massive nation and raid its natural resources.

Meanwhile, the Russian economy is expected to post a growth rate of 2.2% this year — stronger than the U.S. or E.U.