Joe Biden Announces New Sanctions Against Russia Over Ukraine

Published Feb. 22, 2022 at 10:48 pm

US President Joe Biden speaks in the East Room of the White House about Ukraine after Russian troops entered separatist regions February 22, 2022, in Washington, DC. - Biden said Tuesday that Russia has begun to invade Ukraine and plans to go much further than he had previously indicated. "This is the beginning of a Russian invasion of Ukraine," the US leader said, referring to Russian President Vladimir Putin's stated plans to send troops deep into Ukraine's Donbas region. (Photo by Brendan Smialowski / AFP)

Photo by AFP

US President Joe Biden announced on Feb. 22 the first tranche of new sanctions against Russia due to it recognising the independence of two breakaway Russia-supported territories in Ukraine’s Donbas region and sending Russian troops there.

Speaking at the White House, President Biden condemned Putin’s “bizarre” recognition of the two separatist areas on Feb. 21, which he called a violation of international law.

Sanctions are being imposed on two banks, VEB and a military bank called Promsvyazbank, and there will be targeted sanctions against Russian oligarchs and their families.

Sanctions will also take in Russian sovereign debt, in effect cutting off Russia from Western financing.

Biden also confirmed the halting of Russia’s Nord Stream gas pipeline in unison with Germany.