The US and Europe announced additional sanctions against Russia on Friday, one day before the second anniversary of the invasion of Ukraine.

The US imposed more than 500 new sanctions in response to the war and the death of opposition leader Alexei Navalny. They target individuals connected to Navalny's imprisonment, as well as Russia's financial sector, defense industry and others.

The US also imposed new export restrictions on about 100 entities that provide support for the war. The latest package includes companies linked to China and North Korea and, for the first time, Iran's defense ministry.

President Joe Biden said the US is going to ensure that Russian President Vladimir Putin pays a price for his "aggression abroad and repression at home."

The European Union announced a new round of sanctions of their own, which is their 13th since the war began. It focuses on further limiting Russia's access to drones and other military technologies, as well as targeting companies and individuals involved in supplying weapons to Russia, including those in North Korea and Belarus.

The new package brings the number of entities on the EU sanctions list to more than 2,000.