US President Joe Biden announced the imposition of sanctions against Russia due to the recognition of Donbass. We are talking about restrictions on Russian elites and banks, as well as the sovereign debt of the Russian Federation. This is reported TASS.
The head of the White House said that sanctions would be tightened based on Russia’s actions in Ukraine and would be much stronger than those imposed by the United States in 2014.
I’m going to start by imposing sanctions that will be much bigger than the steps we and our partners took in 2014, and if Russia continues with this invasion, we’re ready to go further with sanctions.
Biden said Washington worked closely with allies and partners in Europe and around the world to prepare a response to Moscow’s actions.
As I said last week, defending freedom will have a price for us as well. We must be honest. However, as we do so, I intend to take serious action to ensure that the damage from our sanctions affects the Russian economy, not us.
At the same time, he acknowledged that US sanctions against Russia would affect the American economy and promised to protect it and take measures to minimize the damage caused.
The American president added that Washington will monitor the situation in the energy markets after the introduction of restrictions against the Russian Federation and use every opportunity to protect American businesses and consumers from rising prices.
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US sanctions
Later, the US Treasury announced the imposition of sanctions against the Russian banks VEB and Promsvyazbank, as well as their 42 subsidiaries. Promsvyazbank and its 17 subsidiaries, including financial and technological ones, were subject to sanctions. Sanctions have also been imposed on VEB and 25 of its subsidiaries, including financial institutions, and a coal mining company. The US measures affected VEB subsidiaries in Russia, Belarus, Ukraine, and Hong Kong.
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A senior US administration official explained that sanctions against Russia are not an end in themselves. They are designed to contain the “aggression” attributed to Moscow against Ukraine and prevent human casualties.
At the same time, according to Washington, such a package of sanctions is not final. According to White House spokeswoman Jen Psaki, the United States does not intend to immediately impose all possible sanctions against Russia, as they hope for a deterrent effect.
It is important to understand that sanctions are not an end in themselves. They are aimed at deterring Russian aggression and preventing human casualties in Ukraine.
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A high-ranking US administration official also admitted that the US could cut Russia off from the SWIFT interbank payment system. “It remains one of the options that we can use depending on what next step Russia takes,” the official said.
At the same time, Psaki later noted that the United States cannot predict whether the disconnection of the Russian Federation from the SWIFT system will be included in a possible new package of sanctions, but various options are being considered. According to her, the decision will depend on the situation around Ukraine.
Russia’s response
After the US announced the imposition of sanctions, Andrey Klimov, Deputy Chairman of the Federation Council Committee on Foreign Affairs, said that Moscow could take retaliatory sanctions against Washington. According to him, the restrictions will be “adequate, not necessarily symmetrical.”
Recognition of the DNR and LNR
On February 21, Russian President Vladimir Putin signed decrees recognizing the independence of the DPR and LPR and instructed the country’s Armed Forces to ensure the maintenance of peace in the republics. After that, a number of Western countries went to the introduction of new packages of sanctions against Moscow and criticized her for the decision.
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