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Ukraine Crisis: US President announces new sanctions against Russia for ‘beginning invasion of Ukraine’

Ukraine Crisis: US President announces new sanctions against Russia for ‘beginning invasion of Ukraine’
  • PublishedFebruary 24, 2022

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United States President Joe Biden announced on February 22, 2022 Called the new sanctions against Russia and Russia’s move in eastern Ukraine the “beginning of Russian aggression”.

The move by the United States came after Russian President Vladimir Putin recognized the independence of the separate regions of Luhansk and Donetsk and ordered Russian troops there.

Speaking from the White House on the Russian-Ukraine crisis, the US President also described Putin’s move as the “beginning of the Russian invasion” of Ukraine. Russia began mobilizing troops near the Ukrainian border in 2021 and called them a training exercise.

US announces sanctions against Russia

US President Joe Biden announced that the US would impose full blockade sanctions on two large Russian financial institutions: the VEB and his military bank.

The president said sweeping sanctions have been imposed on Russia’s sovereign debt, meaning the US has cut Russia’s government from Western funding. Russia can no longer raise funds from the West or trade its new debt on US markets or European markets.

Sanctions to be imposed against Russian nobles and their family members

Joe Biden further said that the US will impose sanctions on Russia’s elite as well as his family members. He said that they share the corrupt gains of Kremlin policies and that they too should share in the pain.

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US condemns Russia’s decision to recognize Donetsk and Luhansk as independent

The United States strongly condemned Russia’s decision to recognize Donetsk and Luhansk as independent territories in Ukraine and asked who gave Russia the right to declare new so-called countries on the territory of its neighbors.

Following Vladimir Putin’s announcement on Donetsk and Luhansk, the US President also signed an executive order that would prohibit all new investment, financing and trade by American individuals in the so-called Donetsk and Luhansk People’s Republics.

Notably, President Putin ordered the Russian armed forces to be sent to a separate territory of Ukraine after recognizing their independence on February 21, 2022.

Russia’s invasion of Ukraine: background

1. In March 2014, Russia invaded and then occupied the Ukrainian peninsula of Crimea. Later in April, pro-Russian separatists in the Donbass region declared independence and the war continued in eastern Ukrainian territory and then later spread west.

2. In April 2019, Volodymyr Zelensky, a former comedian, was elected with a large majority as the President of Ukraine on a promise to restore the Donbass to Ukraine.

3. Ukraine’s crisis deepened in January 2021 when the President of Ukraine appealed to the President of the United States to allow Ukraine to enter NATO.

4. Later in the spring of 2021, Russia called for a massive troop training exercise near Ukraine’s borders.

5. Russia has said its recent military deployments near Ukraine’s borders are in response to NATO’s steady eastward expansion and argued that its moves are aimed at protecting its own security considerations.

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