Biden announces sanctions that cut Russia off from Western funding

by time news

US President Joe Biden on Tuesday denounced “the start of a Russian invasion of Ukraine”, announcing financial sanctions against Russia and new “defensive” arms deliveries to Ukraine.

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By announcing that the Ukrainian regions that Russia has recognized as independent exceed the areas currently controlled by the separatists, Russian President Vladimir Putin “is developing justifications to go much further,” Biden said.

“This is the beginning of a Russian invasion of Ukraine,” added the American president in an address to the nation from the White House.

Mr. Biden announced a “first tranche” of sanctions which must cut off Russia from Western funding and target “Russian elites” as well as financial institutions.

“We are putting in place broad sanctions on Russian sovereign debt. This means we are cutting off the Russian government from Western funding,” he said.

If Russia “continues its aggression,” the United States will continue to provide defensive assistance to Ukraine, he stressed.

“I authorized the redeployment of American forces already positioned in Europe to reinforce our Baltic allies, Estonia, Latvia and Lithuania”, continued the chief executive.

A senior Pentagon official said an infantry battalion of some 800 men currently stationed in Italy would be repositioned in the Baltic countries, which will also host 20 AH-64 “Apache” attack helicopters.

In addition, eight F-35 latest-generation fighter jets will be repositioned from Germany to NATO’s eastern flank and 12 other Apaches usually stationed in Greece will be sent to Poland, the official added who requested anonymity.

The United States currently has some 90,000 troops in Europe, he added.

Mr. Biden recalled that the United States did not give up hope of finding a diplomatic solution.

“There is no doubt that Russia is the aggressor, so we are aware of the challenges we face,” he said. “Nevertheless, there is still time to avoid the worst-case scenario which will inflict enormous suffering on millions of people.”

“We will judge Russia by its deeds, not its words. And whatever Russia does next, we stand ready to respond with unity, clarity and conviction. I hope that the diplomatic channel will remain open,” he concluded.

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