US sanctions more than 500 Russian-linked entities to mark two years since Ukraine invasion

The United States sanctioned more than 500 Russian-linked entities Friday to mark the two-year anniversary of Russia’s invasion of Ukraine as part of a multinational effort aimed at cutting into Russia’s war chest while also limiting its ability to build weapons and profit from its shrinking fossil fuel revenue.

Speaking to reporters on a call previewing the effort, Deputy Treasury Secretary Wally Adeyemo said the sanctions, announced in partnership with other U.S. allies in the United Kingdom and European Union, will seek to further cut Russia off from the global economy and “put sand in the gears of Russia’s military-industrial complex” by limiting its ability to build weapons and starve it of its oil and gas revenue.