US announces over 500 new sanctions against Russia as second anniversary of Ukraine invasion approaches News
The White House, Public domain, via Wikimedia Commons
US announces over 500 new sanctions against Russia as second anniversary of Ukraine invasion approaches

President Biden announced in a statement on Friday over 500 new sanctions on Russian entities, one day before the second anniversary of Russia’s invasion of Ukraine, and less than a week after the death of opposition leader Alexei Navalny.

The sanctions target “individuals connected to Navalny’s imprisonment as well as Russia’s financial sector, defense industrial base, procurement networks and sanctions evaders across multiple continents.” There will also be export restrictions on almost 100 entities “for providing backdoor support for Russia’s war machine.” This comes one day after the EU imposed its thirteenth sanctions package against Russia, targeting the country’s war-making abilities.

This is the largest number of sanctions imposed since the beginning of the war in Ukraine, according to the US Treasury Department. Treasury Secretary Janet Yellen stated:

Russia’s economy and military-industrial base are showing clear signs of weakness in part due to the actions we, along with our partners and allies around the world, have taken to support Ukraine’s brave defense…It’s critical that Congress steps up to join our allies around the world in giving Ukraine the means to defend itself and its freedom against Putin’s barbarous assault.

In his statement, President Biden also called for the House of Representatives to pass the bipartisan National Security Supplemental Bill, which the Senate approved last week. The bill provides funding for Ukraine. Said Biden of the importance of these actions, “[h]istory is watching. The failure to support Ukraine at this critical moment will not be forgotten. Now is the time for us to stand strong with Ukraine and stand united with our Allies and partners.”

THIS DAY @ LAW

US Justice Department founded

On July 1, 1870, the US Congress's "Act to Establish the Department of Justice" took effect, and the US Department of Justice (DOJ) was officially founded. The Act took the existing office of the Attorney General and made it the head of the new executive department. Congress created the department due to the ongoing legal difficulties surrounding Reconstruction following the US Civil War, the process where the states in rebellion were formally readmitted to the Union and emancipated slaves gained citizenship for the first time. Learn more from the Department Of Justice.

President Lincoln signed first US federal income tax act

On July 1, 1862, the Tax Act of 1862 was passed and signed by President Lincoln, establishing a 3% federal tax on income above $600 and a 5% tax on income above $10,000. Compliance with the act was poor, even though there were needs for the Civil War. After the war, the act was declared unconstitutional by the Supreme Court. Review a brief history of the US income tax from the Library of Congress.

UK returns Hong Kong to China

On July 1, 1997, the United Kingdom returned Hong Kong to China at the conclusion of a 99-year lease. The foundation for the transfer of power was set in December of 1984 when China and the UK signed the Sino-British Joint Declaration on Hong Kong. The Declaration affirmed the handover of Hong Kong along with governing principles. Most significantly, the Chinese agreed not to impose their socialist system on Hong Kong.