Biden announces new sanctions against Russia to counter Putin's 'invasion' of Ukraine
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President Biden announced on Tuesday that the United States will impose new sanctions on Moscow after Russian President Vladimir Putin ordered troops into two Ukrainian territories on which the Kremlin has laid claim for years.
“This is the beginning of a Russian invasion of Ukraine,” Biden said in an address from the East Room of the White House.
Biden’s remarks came a day after Putin ordered troops into Donetsk and Luhansk under the guise of “peacekeeping,” even as the Russian president made clear that he did not accept the basic premise of Ukrainian sovereignty.
“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 neighbors?” Biden said. “This is a flagrant violation of international law.”
The president said “there is no justification” for Putin’s aggression in the region.
“He directly attacked Ukraine’s right to exist,” Biden said.
“Russia’s moved supplies of blood and medical equipment into position on the border,” Biden added. “You don’t need blood unless you plan on starting a war.”
Biden said U.S. forces already in Europe were moving to strengthen the defenses of Estonia, Latvia and Lithuania, a trio of NATO allies and former Soviet republics.
“Let me be clear: These are totally defensive moves on our part,” Biden said. “We have no intention of fighting Russia. We want to send an unmistakable message, though, that the United States together with our allies will defend every inch of NATO territory and abide by the commitments we made to NATO.”
Biden said that the sanctions would target two major Russian banks, limiting their ability to finance sovereign debt. He added that the sanctions would extend to Russian elites and their family members, and made the case that since those individuals share in the country’s gains they should share in the pains as well. Biden said sanctions were coordinated with U.S. allies and would continue to escalate should Russia pursue war with Ukraine.
Earlier Tuesday, the European Union’s top diplomat said that the group’s foreign ministers had unanimously adopted sanctions against Russia. The action is likely to cause a spike in energy costs worldwide, since Europe gets 40 percent of its gas and 26 percent of its oil from its neighbor to the east. In recent days, oil prices have already risen to $100 per barrel.
“As we respond, my administration is using every tool at our disposal to protect American business and consumers from rising prices at the pump,” Biden said. “As I said last week, defending freedom will have costs for us as well and here at home. We need to be honest about that, but as we do this, I’m going to take robust action to make sure the pain of our sanctions is targeted at the Russian economy, not ours.”
The president concluded by saying he’d likely have more to say and that he was “hoping diplomacy was still available.”
