BIDEN: ‘THERE’S STILL TIME’: In response to Vladimir Putin’s announced intention to send troops into the breakaway region of Ukraine controlled by Russian separatists, President Joe Biden unveiled what he called “the first tranche of sanctions” aimed at crippling Russia’s banking system and making life difficult for Russian oligarchs.
“We’re implementing full blocking sanctions on two large Russian financial institutions, VEB and their military bank … That means we’ve cut off Russia’s government from Western financing,” Biden said in remarks delivered from the East Room of the White House. “We’ll also impose sanctions on Russia’s elites and their family members. They share in the corrupt gains of the Kremlin policies and should share in the pain as well.”
