Biden Announces Sanctions Against Russian Oligarchs, Banks

WASHINGTON – President Joe Biden says the U.S. will be sanctioning Russian oligarchs and their families, as well as Russian sovereign debt in retaliation for the country’s invasion of Ukraine.

Speaking at the White House on Tuesday, Biden said those sanctions were just the “first tranche” of what the U.S. and its allies stand ready to put in place if Russia launches a larger invasion of Ukraine.

“He’s setting up a rationale to take more territory by force,” Biden said of recent comments by Russian President Vladimir Putin. “This is the beginning of a Russian invasion of Ukraine.”

Biden added that he was authorizing the movement of some U.S. troops in Europe to NATO’s Baltic allies as a show of support and solidarity amid the Russian threat.

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