Breaking down the new U.S. sanctions on Russia

RESULTS AS THEY COME IN RIGHT HERE ON CBS NEWS. >>> THE UNITED STATES ISSUED ITS LARGEST SANCTIONS PACKAGE AGAINST RUSSIA SINCE MOSCOW INVADED UKRAINE TWO YEARS AGO. THE BIDEN ADMINISTRATION IMPOSED 600 SANCTIONS TARGETING COMPANIES, FINANCIAL SYSTEMS, AND DISMISS LEADERS, ALSO GOING AFTER THREE INDIVIDUALS THE U.S. LEAVES ARE CONNECTED TO THE DEATH OF OPPOSITION LEADER ALEXEI NAVALNY, WHO DIED IN A RUSSIAN PRISON LAST WEEK. SENIOR WHITE HOUSE AND POLITICAL CORRESPONDENT ED O'KEEFE HAS MORE. >> MAKE NO MISTAKE PUTIN IS RESPONSIBLE FOR ALEXEI NAVALNY'S DEATH. >> Reporter: DETAINED OPPOSITION LEADER ALEXEI NAVALNY DIED IN A PENITENTIARY A WEEK AGO. IN TOTAL THERE ARE ROUGHLY 600 NEW SANCTIONS ON INDIVIDUALS AND ENTITIES IN RUSSIA AND 11 OTHER COUNTRIES INCLUDING CHINA, SERBIA, AND THE UNITED ARAB EMIRATES. THEY INCLUDE RUSSIA PUPPIES TOP STEEL PRODUCERS TAKING HELICOPTER PARTS. A RAILROAD COMPANY, A MAJOR MOSCOW BANK, AND A RUSSIAN IRANIAN SUPPLIED NETWORK MAKING TAX EUROS USED IN UKRAINE. >> THESE RESTRICTIONS HAVE HAD A SIGNIFICANT IMPACT ON RUSSIA, BOTH IN ITS ABILITY TO PROSECUTE ITS AGGRESSION, BUT EVEN MORE, WE SEE THEY WILL HAVE A GROWING AND LONG-TERM IMPACT ON RUSSIA, >> ABILITY TO MODERNIZE ITS INDUSTRIES. >> Reporter: SANCTIONS SO FAR HAVE NOT BEEN EFFECTIVE IN PART BECAUSE PUTIN HAS MAINTAINED STRONG TIES WITH COUNTRIES THAT HAVE KEPT THE WAR MACHINE FUNCTIONING. >> SANCTIONS ARE DESIGNED TO HAVE AN IMPACT OVER TIME TO TRY AND TRICKLE DOWN THE RUSSIAN ECONOMY. WHAT'S HAPPENING NOW IS MORE IMPORTANT. UKRAINE IS POISED TO RUN OUT OF AMMUNITION, AND RUSSIA HAS ENOUGH MONEY TO KEEP FUELING ITS WAR MACHINE AT LEAST IN THE NEAR TERM. >> ED O'KEEFE JOINS ME NOW. HOW MUCH PRESSURE WILL THESE SANCTIONS ACTUALLY PUT ON RUSSIA ? >> Reporter: IT'S UNCLEAR, ELAINE. THE FACT THAT THERE ARE THOUSANDS OF THESE SANCTIONS OUT MIGHT MAKE YOU WONDER, WHAT'S THE POINT IF IT HAS NOT STOPPED MILITARY ACTION? BIDEN ADMINISTRATION OFFICIALS SAY IT IS WEAKENING THE RUSSIAN AND ECONOMY AND MILITARY, BECAUSE THEY HAVE TO MAKE AND RUNS AROUND THESE RESTRICTIONS, AND ULTIMATELY THEY BELIEVE IT WILL CONTRIBUTE TO A DETERIORATION OF THE RUSSIAN ECONOMY. >> AND PRESIDENT BIDEN IS CALLING ON CONGRESS TO APPROVE AID FOR UKRAINE. WHAT'S THE LATEST ON THAT? >> Reporter: IT STILL OBVIOUSLY HASN'T BEEN PASSED. CHUCK SCHUMER AND OTHER SENATORS WERE IN UKRAINE TELLING OFFICIALS THEY ARE WORKING ON IT AND PUSHING HOUSE SPEAKER MIKE JOHNSON TO BRING IT UP FOR A VOTE WHEN THE HOUSE RECONVENES. THEY ARE FIRST WORKING TO AVOID A SHUT DOWN, AND THE HOPE IS IN THE COMING WEEKS THERE COULD BE SOME KIND OF A BIPARTISAN AGREEMENT TO GET A VOTE ON THE LEGISLATION IN THE HOUSE AND GET IT TO THE PRESIDENT. UKRAINIAN LAWMAKERS WARNED IF IT ISN'T DONE WITHIN

Channel: CBS News

Views: 281,998

Keywords: Politics, Joe Biden, Biden Administration, Sanctions, Russia, Ukraine, Alexey Navalny, Moscow, Vladimir Putin, Volodymyr Zelenskyy, United States Congress, Mike Johnson, Chuck Schumer, CBS News Weekender Clips, U.S., World, CBS News

Id: YHmR_ICSfpk

Length: 3min 17sec (197 seconds)

Published: Sat Feb 24 2024