EU imposes sanctions on Duma and Russian banks

In a speech Tuesday night, President Joe Biden said that what we see is the beginning of an invasion and that the United States faces first-round sanctions against Russia. The United States faces a full siege against two Russian banks. Sanctions have been imposed on the Russian elite and their families.

– Sanctions will cut off funding to Russia from the West, says Biden in a White House speech

– President Biden says Russia will be more expensive if occupation continues. He is also behind the German announcement that Nord Stream 2 will be discontinued.

The president said the United States would not engage in an armed conflict with Russia, but would protect “every inch” of NATO territory. The United States will send reinforcements to the Baltic states, soldiers and defense equipment. The United States will also provide military support to Ukraine.

President Biden called Putin’s speech “distorted” Monday night, but said it was still possible to avoid a worsening situation.

– If diplomacy is serious we are ready for it, says Joe Biden.

A total of 378 people And the companies are subject to EU sanctions as a result of Russia’s recognition of Donetsk and Luhansk. Among them are 351 members of the Duma.

Sanctions Restrict individuals from entering the EU, which means that, among other things, they cannot pass through the airspace of the EU. Individuals and companies acquire real estate, securities and many other assets within the EU. Already, as a result of the annexation of Crimea in 2014, 230 people and companies affiliated with Russia are on the EU sanctions list.

EU strategy behind sanctions:

Those involved in illegal decision making.

Banks financing the Russian military and other operations in secluded areas.

The two separated regions trade with the EU, thus Donetsk and Luhansk will feel the economic consequences.

To reduce the chances of the Russian government and government gaining access to the EU financial and capital markets.

In addition to Duma members The European Union has identified 27 individuals and companies. Their names have not yet been announced, but Putin has not been included, EU Foreign Minister Joseph Borel said.

– It hurts in Russia: it hurts a lot, says Borel.

He added that if the situation in and around Ukraine worsens, the EU will impose further sanctions.

Earlier on Tuesday, German Chancellor Olaf Scholes surprised the outside world with the news that the legal process for approving the North Stream 2 gas pipeline would be halted.

– In light of the latest developments, we need to reconsider the situation, especially with regard to Nord Stream 2, Scholz says.

Although the construction of the gas pipeline in the Baltic Sea has been completed, it has not yet been approved for use.

Britain is also facing sanctions. In the first round, they targeted five Russian banks and three rich people, the country’s foreign ministry said. Billionaires oligarchy Janet Tymchenko and brothers Igor and Boris Rottenberg. All are active in the energy sector and have close ties to President Vladimir Putin. The United States has already imposed sanctions on them.

Like the European Union, Britain will impose sanctions on Russian lawmakers who voted to recognize Donetsk and Luhansk. Members of the Russian Security Council, on the other hand, were not mentioned in the Foreign Ministry report. Vladimir Putin formally consulted with the Security Council before signing the decree on Monday. The council, for example, includes Foreign Minister Sergei Lavrov.

– We are ready to go further if Russia does not retreat from the recession. “We will restrict the ability of the Russian government and Russian companies to finance our markets, restrict the export of high – tech products, and isolate Russian banks from the world economy,” said British Foreign Secretary Lis Truss. .

EU, USA, UK Many have long warned Vladimir Putin that an invasion of Ukraine would be costly. This will lead to comprehensive sanctions, more severe than ever, and will affect individuals, Russian banks and Russian imports of essential goods.

The Western world seeks to consolidate its sanctions, which have far-reaching consequences, preventing Putin’s aggression from continuing. For example, there is speculation that in the event of a full-scale invasion, Russian financial institutions could be shut down from Swift, the international cooperative for financial transactions.

Canada, Japan, Norway and other countries are also expected to decide on sanctions.

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