Amid the ongoing Ukraine-Russia crisis, the United States (U.S.,) President Mr. Joe Biden announced sanctions against Russia.
On the 22nd of February, Tuesday, the Joe Biden Government announced the “first tranche” of sanctions against Russia, which would include steps to starve the nation of financing. The decision was taken after Moscow started an invasion of Ukraine.
Mr. Joe Biden said, “We’re implementing sanctions on Russia’s sovereign debt. That means we’ve cut off Russia’s government from Western financing.” He further added, “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?”
With this tough move, the Russian VEB, Russia’s state development bank, and members of the nation’s “elites,” would be targeted. A United States leader said, “They share the corrupt gains of the Kremlin policies, and should share in the pain as well.”
Besides the sudden announcement of the U.S., Government came a day after the European Union launched its own sanctions in a coordinated Western attempt to pressure Russian President, Mr. Vladimir Putin. Adding to it, Mr. Joe Biden said the responses “have been closely coordinated with our allies and partners. We’ll continue to escalate sanctions if Russia escalates.”
The Treasury Secretary of the U.S., Janet Yellen said, “We continue to monitor Russia’s actions and if it further invades Ukraine, the United States will swiftly impose expansive economic sanctions that will have a severe and lasting impact on Russia’s economy.”
The decision came as a response to Mr. Vladimir Putin’s decision to send the Russian Army to the Russia-Ukraine border. On the 21st of February, Mr. Putin ordered the sending of the Russian Armed Forces to Ukraine’s breakaway regions after recognizing their independence in his Monday address to the nation.
Notably, Russian troops have been increasing at the Ukraine border for a month and despite warnings of war from the United States of America (U.S.A.,) the situation is getting worse with the possibility of a war in Ukraine. The major reason behind the situation is the North Atlantic Treaty Organization (NATO) which has members as the U.S.A., the United Kingdom (U.K.,) and 26 other countries. Ukraine wants to be a member of NATO, which has been supported by the U.S.A., the U.K., France, and others. The Russian Government does not want Ukraine to be a part of NATO, as it will expand the grouping at the Ukraine-Russia border. Another major reason is Crimea, as Russia believes if Ukraine becomes a NATO member, it would try to take back Crimea by military force.
Mango News Link
Telegram: https://t.me/mangonewsofficial
Google Play Store: https://bit.ly/2R4cbgN
Apple / iOS Store: https://apple.co/2xEYFJ
