Biden announces sanctions against Russian oligarchs, banks

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NEW: President Joe Biden announced the U.S. was ordering heavy financial sanctions against Russian banks and oligarchs on Tuesday, declaring that Moscow had flagrantly violated international law by invading Ukraine.

Putin said the crisis could be resolved if Kyiv recognizes Russia’s sovereignty over Crimea, the Black Sea peninsula that Moscow annexed from Ukraine in 2014, renounces its bid to join NATO and partially demilitarizes. The West has decried the annexation of Crimea as a violation of international law and has previously flatly rejected permanently barring Ukraine from NATO.

“We think this is, yes, the beginning of an invasion, Russia’s latest invasion into Ukraine,” said Jon Finer, principal deputy national security adviser, said on CNN. “An invasion is an invasion, and that is what is underway.” Biden said, “These are totally defensive moves on our part” and the U.S. has no intention of deploying its forces in non-NATO-member Ukraine. But Biden also said the U.S. and its allies “will defend every inch of NATO territory and abide by the commitments we made to NATO.” The organization’s mutual-defense pact considers an attack on one member to be an attack against all.

Condemnation from around the world was quick. Ukrainian President Volodymyr Zelenskyy said he would consider breaking diplomatic ties with Russia and Kyiv recalled its ambassador in Moscow. Poland’s Defense Ministry and British Health Secretary Sajid Javid also said Russian forces had entered eastern Ukraine, with Javid telling Sky News that “the invasion of Ukraine has begun.”

 

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