Biden announces new sanctions against Russia
U.S. President Joe Biden has announced he will enact sanctions on Russian over its new aggression against Ukraine
In his address from the White House on Tuesday, Biden said that this is the first tranche of sanctions to impose costs on Russia in response to their yesterday's actions, Ukrinform reports.
The U.S. president called Russia's recent actions "the beginning of an invasion of Ukraine". Therefore, new sanctions against Russia will be much more severe than those enacted in 2014.
Biden said the U.S. is imposing "blocking sanctions" on two large Russian financial institutions, VEB and a military bank, as well as sanctions on Moscow's sovereign debt.
In addition, the United States will begin to impose restrictions on Russian elites and their family members. Biden also promised that Nord Stream 2 would not move forward due to Russian aggression.
"And if Russia goes further with this invasion, we stand prepared to go further as with sanctions," Biden said.
