Biden: The first package of sanctions in Russia – more will follow

LAST UPDATE 22:30

US President Joe Biden today announced a first package of sanctions against Russia, warning that new sanctions would follow if Russian aggression continued, although he left a window for a resumption of diplomatic efforts, stressing that the United States and its allies are always open to diplomacy

In a statement from the White House, President Biden stressed that today we see “the beginning of a Russian invasion of Ukraine” and stressed that Russian aggression would lead to new sanctions.

Biden said US sanctions targeted “the country’s elites and their families”, as well as the sale of government debt abroad and two Russian banks, VEB and a Russian military bank. This means that US financial institutions will not be able to conduct transactions with Russian banks.

Regarding Russia’s debt, he noted that the latest sanctions “mean that we are blocking Russia’s access to Western funding.” “It will no longer be able to raise money from the West and it will not be able to trade new debt in our markets or in European markets,” he said.

He also noted that in the coming days, sanctions will be announced against persons who are close to Putin. The Russian elites and their families, he said, “share the corrupt profits from the Kremlin’s policies and in this context they should also experience the pain.” [από τις κυρώσεις]”.

US forces in the Baltic are being strengthened

The US president also announced that he would move US forces to Europe to help strengthen the Baltic states (Estonia, Latvia and Lithuania). The United States will defend “every point” of NATO territory, he stressed.

“The cost to Russia will be even greater if the aggression continues and that includes new sanctions,” Biden said.

He also noted that the recent statements of President Vladimir Putin showed that the Russian leader is not interested in diplomacy. “Putin directly attacked Ukraine’s right to exist,” he said.

However, he hoped that diplomacy could continue, noting that “there is still time” to avoid a worst-case scenario and stressing that the United States and its allies will always be open to diplomacy.

US President’s announcements follow dramatic escalation of tensions in eastern Ukraine following Russian President’s decision Vladimir Putin to recognize the two breakaway regions, derailing efforts to resolve the crisis after eight years of diplomatic efforts. THE Russian Upper House approved the deployment of Russian troops in the breakaway regions, with Reuters reporting that troop movements in the area.