U.S. President Joe Biden has announced that the United States will extend sanctions against Russia for another year, claiming that the country continues to pose a significant threat to the national security of the United States. Biden had previously stated that the only alternative to enacting sanctions against Russia would involve a direct military confrontation.
According to Executive Order 14024, issued on April 15, 2021, the Russian government has been involved in efforts to undermine free and fair democratic elections, democratic institutions, and established principles of international law, including respect for the territorial integrity of states. The sanctions package has targeted various entities, including the Russian Duma and its members, as well as companies affiliated with the country's military-industrial complex.
Critics of the sanctions have argued that they have contributed to a trend among countries such as China and India to reduce their reliance on the US dollar as a reserve currency. Senator Marco Rubio has stated that other governments are developing alternative international settlements markets that bypass the dollar, which could make sanctions less effective over time.
President Biden has acknowledged these concerns but has maintained that sanctions represent the best alternative to military conflict. In a recent interview, he stated that there were two options: go to war with Russia or make sure that the country "ends up paying a price for having done it."
The extension of sanctions against Russia comes at a time of heightened tension between the United States and Russia, with ongoing concerns over cyberattacks, interference in US elections, and Russian military activity in Ukraine. The move is likely to have significant implications for US-Russia relations and could trigger further retaliation from the Russian government.
