US President Joe Biden today announced new sanctions against Russia, terming Moscow’s recognition of two breakaway regions in eastern Ukraine as independent the beginning of Russian invasion of its neighbour.
The sanctions target Russia’s sovereign debt as well as two large Russian financial institutions, including the country’s military bank, Biden said.
“That means we’ve cut off Russia’s government from Western financing. It can no longer raise money from the West and cannot trade in its new debt on our markets or European markets either,” the US president added.
Biden condemned Vladimir Putin’s decision to recognise the independence of Luhansk and Donetsk and deploying Russian troops to “maintain peace” in the regions.
The US President said, “If Russia goes further with this invasion, we stand prepared to go further as with sanctions.”
“Who in the Lord’s name does Putin think gives him the right to declare new so-called countries on territory that belongs to his neighbours? This is a flagrant violation of international law and demands a firm response from the international community.”
Meanwhile, international crude oil price has surged close to $100/barrel on Feb 22, when Putin recognised two regions of Ukraine and sent troops there.
