US to announce new economic sanctions on Russia after it recognizes two breakaway regions of Ukraine

Following Russia’s move to recognize two breakaway regions in Ukraine, the United States has begun coordination with allies and is slated to announce new sanctions on Russia.

“… the United States will impose sanctions on Russia for this clear violation of international law and Ukraine sovereignty and territorial integrity,” said U.S. Ambassador to the United Nations, Linda Thomas-Greenfield, to reporters following a U.N. Security Council meeting on Monday evening.

She went on to add, “We can, will, and must stand united in our calls for Russia to withdraw its forces, return to the diplomatic table and work toward peace.”

On Monday, Russian President Vladimir Putin recognized two breakaway regions of Ukraine as independent. Following this the Russian defense ministry deployed troops to the two regions to “keep the peace” heightening Western fears of am impeding invasion of Ukraine.

According to officials from the Biden Administration Putin’s move did not trigger a broad package of sanctions since those would be triggered only in the event of a Russian invasion of Ukraine; Russia already had troops in the rebel-held regions.

The White House has announced less severe and more targeted sanctions, in response to Moscow’s recognition to the two breakaway regions in Ukraine.

US President Joe Biden issued an executive order which would “prohibit new investment, trade, and financing by U.S. persons to, from, or in the so-called DNR and LNR regions of Ukraine”.

The economic measures are aimed at hurting the Russian economy by cutting off banking relationships between targeted Russian banks and U.S. banks that enable international payments.

The Biden Administration plans to spare Russian civilians from the brunt of U.S. export controls in the event Russia invades Ukraine; US sanctions would target Russia’s industrial sectors, said a White House official.

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