Biden: Sanctions To Target Russian Elites, Banks, Debt

The Washington Post reports:

President Biden announced new sanctions on Russia on Tuesday after its moves against Ukraine, saying the actions amounted to a “flagrant violation of international law.”

In imposing economic penalties on Russia, the United States joins European allies in responding to Russia’s deployment of troops into two pro-Russian separatist regions of eastern Ukraine. Biden called Russia’s actions the “the beginning of a Russian invasion of Ukraine.”

Biden said a “first tranche” of U.S. sanctions against Russia would target two financial institutions, Russian sovereign debt and Russian elites and their family members.

The New York Times reports:

Mr. Biden said the United States is imposing “full blocking” on two large Russian financial institutions and “comprehensive sanctions” on Russian debt.

“That means we’ve cut off Russia’s government from Western finance,” he said. “It can no longer raise money from the West and cannot trade in its new debt on our markets or European markets either.”

He also said that the United States would impose sanctions on Russian elites and their families, an effort to ensure that those closest to Mr. Putin do not escape financial pain that is expected to hit hard for average Russian citizens.

I am impressed.   These are not small steps or weak words.   Biden stood strong and firm and warned the country that defending democracy is going to come at a cost and it is going to hurt in some ways.   I don’t think Russia / Putin expected this.   I don’t think he thought the gas pipeline was threatened.   These sanction will hurt the oligarchs which will threaten Putin’s hold on the country.  

4 thoughts on “Biden: Sanctions To Target Russian Elites, Banks, Debt

    1. Hello Muttpupdad. I don’t think he is their main asset anymore. They own a few highly placed Senators and more than a few Representatives. I tis a shame when our elected office holders go to Moscow to meet with and eat with Putin. Basically kissing Putin’s butt. I posted a story yesterday of a Republican who out right email Russian intelligence agencies to ask for dirt on his opponent. Why not, the former guy did it on camera and got away with it. If the former guy loses his security clearance which I suspect he has or will, he is about useless to Russia except as a chaos tool.

      Liked by 1 person

    1. Hello Nan. It is like the word you told me was so scary to the older generations. Putin is saying he wants to bring that government control back. The USSR. He was raised in it, he became a man in it, he started his career as a KGB member in it. So for me to hear these right wingers promote him and Russia stuns me. I remember being in Berlin and being told that if the balloon goes up the tank turrets would be stuck over the wall with signs saying welcome to the POW camp Berlin. Yet now we have a well watched network in the US promoting that KGB officer. When I drove a van full of ranking US officers over to east Berlin, on the way back we took fire. It was getting dark, twilight. They shot out our headlights. I was a young guy kid. I did not know what to do. My sergeant boyfriend in the passenger seat told me to stay right on the tail of the US van ahead of us as they took off. The two vans raced toward check point Charlie and I admit I scraped the sides of the van as we slid into the check point. I got an award for that night. But things are changing aren’t they. I do not understand how people can forget the history, then I remember that many of them were never taught it. That is scare in the days of making teaching of history illegal.

      Liked by 1 person

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