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The President of the United States, Joe Biden, signed an executive order this Monday, February 21, 2022 to prohibit trade and investment between individuals from this country and the two cities in eastern Ukraine recognized as independent by Russia.
While the rest of the West continues to assess what economic measures it will use to sanction Russia if it invades Ukraine, the United States took the lead, after Moscow recognized the Ukrainian cities of Donetsk and Lugansk as independent.
With his latest move, Russian President Vladimir Putin has prompted Washington and Europe to promise new sanctions and raised fears of a possible war with Ukraine at its epicenter.
The White House chief’s order includes a ban on “new investment” by any American, wherever located, as well as the “importation into the United States, directly or indirectly, of any goods, services, or technology” from these territories located in the Donbass region.
Meanwhile, Europe continues to consider options to punish the Kremlin. The president of the European Commission, Ursula von der Leyen, assured on German radio that “if Vladimir Putin starts a war, we will respond with the most powerful tool we have: economic and financial sanctions, because the economy is Russia’s weak point.” .
“The EU and its partners will react with unity, firmness and determination in solidarity with Ukraine,” added von der Leyen on his Twitter account.
Tomorrow we will be announcing new sanctions on Russia in response to their breach of international law and attack on Ukraine’s sovereignty and territorial integrity.
— Liz Truss (@trussliz) February 21, 2022
One of the proposals that the West has studied is to remove Russia from the Swift system, which is the basis of the global financial system, used by 11,000 banks in 200 countries or territories to make international transfers.
However, over the weekend a senior White House official ruled it out for now. Daleep Singh, President Biden’s deputy national security adviser, commented on Friday, February 18, that “all options are still on the table, but you probably won’t see Swift in the first sanctions package.”
The United Kingdom, through its Foreign Minister, Liz Truss, announced that on Tuesday it will take additional action against Russia on its own, “in response to its violation of international law and attack on Ukraine’s sovereignty and territorial integrity.”
Tomorrow we will be announcing new sanctions on Russia in response to their breach of international law and attack on Ukraine’s sovereignty and territorial integrity.
— Liz Truss (@trussliz) February 21, 2022
Both the Biden Administration and European Union authorities have been threatening harsh sanctions on Russia in an attempt to dissuade the Russian president from invading Ukraine. Moscow has amassed more than 150,000 troops on its neighboring country’s borders, but Putin has denied plans to launch an attack.
With Reuters and EFE
