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  • Los Angeles Times

    Biden stiffens sanctions on Russia over Ukraine invasion

    by Eli Stokols, Los Angeles Times Feb 24, 2022 4 minutes
    U.S. President Joe Biden delivers remarks in the East Room of the White House, giving an update on the situation with Russia and Ukraine, on Tuesday, Feb. 15, 2022 in Washington, D.C. The President has said the United States remains open to high-level diplomacy, continuing to believe that diplomacy and de-escalation are the best path forward.

    WASHINGTON — President Joe Biden announced Thursday that the U.S. will impose severe economic sanctions on Russia over what he described as an “unprovoked and unjustified attack” on Ukraine, but he stopped short of barring Moscow from a key global financial system.

    “Putin is the aggressor. Putin chose this war,” Biden said. “And now he and his country will bear the consequences.”

    Biden announced joint sanctions with European allies to sanction five more Russian banks holding around $1 trillion in assets. “Every asset they have in America will be frozen,” Biden said.

    Biden also said the administration was sanctioning additional Russian “elites and their family members,”

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