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Russia Invasion: US Announces New Sanctions Targeting Moscow’s Ability To Access Int’l Financial Markets

February 24, 2022
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Vladimir Putin and Joe Biden.

Vladimir Putin and Joe Biden.

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By Emmanuel Nduka

US President Joe Biden has vowed to make Russian President Vladimir Putin weak with a mirage of new sanctions announced on Thursday evening.

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Addressing a press conference, Biden said Russia’s VTB Bank asset worth $250m, will be frozen.

He also said the US will move to curtail Russia’s ability to make weapons and block its access to international financial markets

While stating that the US will not be sending troops into Ukraine, Biden assured that they will “reassure their allies.”

Biden however said he does not have plans to talk to Putin for the time being, adding that the Russian President has asked for war, and he must face the consequences.

Earlier, the United Nations had called on Putin to end the invasion and order the withdrawal of troops from Ukrainian territory.

Also, British Prime Minister Boris Johnson on Thursday unveiled a package of “severe” sanctions against Russia, targeting banks, members of Putin’s closest circle and the extremely wealthy who enjoy high-rolling London lifestyles.

Speaking to Parliament, Johnson said Putin would be condemned by the world and by history for his invasion, never able to cleanse the “blood of Ukraine” from his hands.

“This hideous and barbarous venture of Vladimir Putin must end in failure. For our part today the UK is announcing the largest and most severe package of economic sanctions that Russia has ever seen,” he told Parliament when announcing the new sanctions

Western nations are coordinating actions to impose tough sanctions on Russia in response to its all-out invasion of neighbouring Ukraine, where Moscow staged missile strikes on cities and poured its troops into the country.

After the West was criticised for earlier, weaker sanctions this week in response to Russia recognising two breakaway republics in Ukraine, Johnson said leaders had agreed to work together to “maximise the economic price” Putin will pay.

 

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