President Biden made a significant announcement on Friday, revealing that the United States will be implementing sanctions on more than 500 Russian targets in response to the death of opposition leader Aleksei A. Navalny. This move marks the largest single package of economic restrictions since Russia’s invasion of Ukraine two years ago.

The sanctions, to be distributed by the Treasury and State Departments, were foreshadowed earlier in the week when the White House indicated its intent to impose “major” penalties following the recent passing of Mr. Navalny in a Russian prison. The specific sectors and individuals to be targeted by the Biden administration remain unknown, a crucial factor in determining the extent and efficacy of the sanctions.

Mr. Biden emphasized the consequences of not holding Russian President Vladimir Putin accountable for his actions, stating, “If Putin does not pay the price for his death and destruction, he will keep going. And the costs to the United States — along with our NATO allies and partners in Europe and around the world — will rise.”

The president clarified that the sanctions are a response to Russia’s “ongoing war of conquest on Ukraine and for the death of Aleksey Navalny, who was a courageous anti-corruption activist and Putin’s fiercest opposition leader.” They will encompass new measures aimed at Russia’s defense industrial base, financial sector, and individuals associated with Mr. Navalny’s incarceration.

As the conflict enters its third year, the Biden administration has increasingly relied on financial tools to undermine and isolate Russia’s economy. Collaborating with allies from the Group of 7 nations, the U.S. has implemented measures such as capping the price of Russian oil on global markets, freezing Russian central bank assets, and imposing trade restrictions to impede the flow of military supplies to Russia.

Close coordination with Europe has been integral to the efforts to isolate Russia economically. The European Union recently announced its 13th set of sanctions on Russia, prohibiting nearly 200 individuals and entities involved in aiding Russia’s weapon procurement from conducting business within the EU. Additionally, Britain imposed sanctions on companies linked to Russia’s ammunition supply chain and individuals responsible for the Arctic prison where Mr. Navalny passed away.

Despite these economic pressures, Russia has managed to withstand the restrictions to a large extent. Countries like China, India, and Brazil have increased their purchases of Russian oil, and Russia’s spending on the war has bolstered its economy, exceeding expectations according to the International Monetary Fund’s latest report.

On Friday, Mr. Biden renewed his plea to Congress for additional funding to support Ukraine in defending itself against Russia.

“The failure to support Ukraine at this critical moment will not be forgotten,” he asserted.