Biden Announces Sanctions in Response to Russia’s Invasion of Ukraine

President Joe Biden announced the first set of financial sanctions Tuesday against Russia in response to the invasion of Ukraine.

“Today, I’m announcing the first tranch of sanctions on Russia in response to their actions yesterday,” Biden announced. “We’re implementing full blocking sanctions on two large Russian financial institutions: VEB and their military bank.”

“We’ve cut off Russian banks from U.S. or European financial markets,” he added.

Biden also said that Nord Stream 2 will not move forward. The pipeline from Russia to Germany has been fully constructed and was only awaiting certification by German authorities. The natural gas line goes from Russia to Germany.

As part of the response to Russian aggression, the president said that he has ordered the movement of troops already stationed in Europe to defend the NATO member nations of Latvia, Lithuania, and Estonia. 5,000 U.S. troops have already been stationed in Poland in response to the Russian build-up.

“As Russia contemplates its next move, we have our next move prepared as well,” Biden said. “The United States will continue to provide defensive assistance to Ukraine in the meantime.”

The U.S., as well as other NATO nations, have been sending arms and ammunition into Ukraine to bolster their defense.

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