After diplomatic efforts to resolve the Ukraine crisis, the Western world is now on the path to sanctions. Meanwhile, the United Kingdom has imposed sanctions on Russia. This time US President Joe Biden also announced the ban. He made the announcement on Tuesday, local time.
The United States has imposed sanctions on Russia over the Ukraine issue, Reuters reported. President Biden has said that if more attacks are carried out in Ukraine, more sanctions will be imposed on Russia.
Biden spoke to reporters on Tuesday about the ban. He says his government is imposing sanctions on Russia’s two largest financial institutions and on Russian sovereign debt. The United States has also imposed sanctions on Russian billionaires and their families, as well as Russian officials.
On Monday, Russian President Vladimir Putin recognized Donetsk and Luhansk, two regions of pro-Russian rebels in eastern Ukraine, as independent states. He then ordered the deployment of peacekeepers there.
Soon after, sanctions began to come from the Western world. The United Kingdom was the first to impose sanctions. Then the United States followed the same path. The European Union is also talking about imposing sanctions.
In this context, Biden said that Russia has begun to attack Ukraine. By declaring these two regions as countries, Russia is undeniably taking action against Ukraine.
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The United States has said since the start of the crisis in Ukraine that it will impose sanctions on Russia if it launches an attack on the country. The White House said in a statement that Russia would take “immediate action” against Russia if any military action was taken on the border. That’s it. The ban was imposed after Russian troops entered the area.
The United States used the most powerful weapon in the embargo. Russia’s VVB Bank and Russia’s military bank Promsvayaz have been banned. This military bank operates under various military contracts.
In addition, the billionaires against whom sanctions have been imposed will not be able to do business with U.S. citizens. At the same time, the assets of those people living in the United States will be confiscated.
“Russia is considering the next step,” Biden said. We also have the next step ready. If Russia continues its aggression, it will have to pay a heavy price. Biden also said that more sanctions would be imposed on the country.
Meanwhile, Kremlin spokesman Dmitry Peskov said President Putin had not seen the sanctions imposed by Biden’s speech. Russia will assess the sanctions before making any comments.
Biden has vowed to continue cooperating with Ukraine in the wake of Russia’s move. However he acknowledged that their numbers were not enough to defeat Russia. The president also confirmed the deployment of additional troops to Estonia, Latvia and Lithuania.