Home News President Biden Announces New Sanctions Against Russia

President Biden Announces New Sanctions Against Russia


US – President Biden announced new sanctions against Russia on Tuesday, warning of, the beginning of the Russian invasion.”

“We still believe that Russia is poised to go much further and launch a massive military attack against Ukraine,” Biden said.

The new sanctions will go against Russias money, and will target bank VEB and Russias sovereign debt cutting the country off to Western bank monies. The sanctions will also target Russian elites and family members to put pressure on them to stop the possible invasion.

The President said that he was also moving Troops and equipment into Baltic allies, but said that he does not plan on getting into a fight with Russia. In the public address, Biden said it was a defensive move.

Russia has decided to recognize the purported “independence” of the so-called DNR and LNR regions of Ukraine, including the Executive Order issued last night 

“As Russia contemplates this next move, we have our next move prepared as well,” Biden warned. “Russia will pay an even steeper price if it continues its aggression, including additional sanctions.”

That may cost US at home also, with gas prices already at high inflation, this could drive the market up even higher to possible record-high numbers.

Russia also supplies the world with raw materials like aluminum, nickel, palladium, and copper. If Russia decided to slow that market it could have major effects on an already poor global market.