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CRS INSIGHT
Prepared for Members and
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On October 20, 2023, the Administration submitted to Congress a new request for $106 billion in FY2024
emergency supplemental funding for Ukraine, Israel, border security, and other purposes. The request
continues to be under consideration in Congress.
For more, see CRS In Focus IF12040, U.S. Security Assistance to Ukraine; CRS Insight IN12107,
Department of Defense Supplemental Funding for Ukraine: A Summary; CRS Report R47275,
Department of State, Foreign Operations, and Related Programs (SFOPS) Supplemental Funding for
Ukraine: In Brief; and CRS In Focus IF12305, U.S. Direct Financial Support for Ukraine.
U.S. Sanctions
Prior to 2022, the United States had imposed sanctions on Russia in response to Moscow’s 2014 invasion
of Ukraine and other malign activities. Beginning in December 2021, the United States and others warned
Russia’s leadership that a new attack on Ukraine would lead to severe new sanctions (in addition to
increased security assistance to Ukraine and an enhanced NATO presence in Central and Eastern Europe).
Sanctions designations and related actions the Biden Administration and Congress have taken since
February 2022 include the following actions targeting Russian government assets, trade, economic
sectors, and specific individuals and entities:
• Restrictions on transactions with Russia’s central bank, limiting its ability to draw on
dollar-denominated foreign reserves
• Export controls targeting Russia’s defense, aerospace, and maritime sectors; energy
production; and “a wide range of commercial and industrial operations”
• A ban on the import to the United States of Russian oil and other energy products (P.L.
117-109) and suspension of normal trade relations with Russia and its ally Belarus (P.L.
117-110)
• A prohibition on maritime transport services for Russian oil exports above a price cap of
$60 per barrel, in coordination with the EU and others
The Biden Administration also has prohibited the following with respect to Russia:
• New U.S. investment
• U.S. import of gold, diamonds, seafood, and alcoholic beverages
• Export of U.S. luxury goods and dollar-denominated banknotes
• The provision of certain corporate, maritime transport, quantum computing, architecture,
and engineering services
• Secondary-market transactions by U.S. financial institutions in Russian sovereign debt
• Entrance into and use of U.S. airspace
• Entrance into U.S. ports
• U.S. trade or investment in Russia-occupied regions of eastern Ukraine
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The Administration has designated for sanctions more than 3,500 individuals and entities (including by
restricting transactions and access to U.S.-based property). Designees include members of the Russian
government, as well as individuals and entities in the defense and technology, financial services, energy,
metals and mining, transportation, and other sectors of the Russian economy, in addition to facilitators of
sanctions evasion. Those subject to U.S. sanctions include the following:
• Russian President Vladimir Putin, Prime Minister Mikhail Mishustin, other Cabinet
members and senior administration officials, and regional governors
• Russia’s legislature (the State Duma and Federation Council) and its members
• Russia’s largest banks
• Hundreds of defense and technology firms and sanctions evasion facilitators
• The parent company for Nord Stream 2, a Russian gas pipeline project to Europe
• Dozens of Russia’s Kremlin-connected business elites (many of whom are referred to as
oligarchs)
• Proxy occupation officials
The Administration also has banned entry into the United States for thousands of Russian officials and
military personnel.
For more, see CRS In Focus IF12062, Russia’s War on Ukraine: Financial and Trade Sanctions; and CRS
In Focus IF12092, The Economic Impact of Russia Sanctions.
Author Information
Cory Welt
Specialist in Russian and European Affairs
Disclaimer
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This document was prepared by the Congressional Research Service (CRS). CRS serves as nonpartisan shared staff
to congressional committees and Members of Congress. It operates solely at the behest of and under the direction of
Congress. Information in a CRS Report should not be relied upon for purposes other than public understanding of
information that has been provided by CRS to Members of Congress in connection with CRS’s institutional role.
CRS Reports, as a work of the United States Government, are not subject to copyright protection in the United
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