Joe Biden cuts off Moscow from western financing
New Delhi, February 23
Amidst fears of a Russian invasion, Ukraine said it would impose a state of nationwide emergency while US President Joe Biden announced the “first tranche” of sanctions targeting two large financial institutions, Russian sovereign debt and elites and their family members. Biden said the move would effectively “cut off Russia’s government from western finance”.
US creating fear and panic: China
- Chinese Foreign Ministry spokesperson Hua Chunying says China opposes new sanctions on Russia
- Accuses US of fuelling tension by giving arms to Kyiv
- Beijing for multilateral talks
- Russia evacuates diplomatic staff from Ukraine
- Italy wants gradual, calibrated Russia sanctions
- UK: More sanctions against Russia ‘in the locker’
The US was also moving additional troops and equipment to “strengthen” its Baltic allies, but Biden made it clear they would not be there to “fight Russia”. He, however, said, “Who in the Lord’s name does Putin think gives him the right to declare new so-called countries on territory that belonged to his neighbours?” In addition, severalUS allies, including the UK, imposed sanctions on Russian oligarchs and banks a day after Germany halted the Nord Stream 2 pipeline from Russia. As tensions rose and possibilities of a diplomatic resolution sank, Moscow began evacuating its embassy and consulates in Ukraine while Kyiv urged its citizens to leave Russia. By Wednesday afternoon, the Russian flag was no longer flying over the embassy in Kyiv, and the police had surrounded the building. US Secretary of State Antony Blinken said the proposed Geneva meeting with his Russian counterpart Sergey Lavrov had been cancelled.
The head of Ukraine’s National Security and Defence Council said a nationwide state of emergency would be imposed after parliamentary approval and it was up to the regional authorities to determine which measures to apply.
As Ukraine appealed for more sanctions, Russia was defiant. Its Ambassador in the US Anatoly Antonov said, “Sanctions can’t solve a thing. It is hard to imagine that there is a person in Washington who expects Russia to revise its foreign policy under a threat of restrictions.” The Russian Foreign Ministry also said, “Russia has proven that with all the costs of the sanctions it is able to minimise the damage.”
More sanctions were on the way as German Foreign Minister Annalena Baerbock said the EU sanctions announced on Tuesday were just “a first step”. Russia currently had 1.5 lakh troops on three sides of Ukraine.
