US, UK slap sanctions on Russia over Ukraine

KABUL (Pajhwok): The United States and its close ally Britain have imposed new sanctions on Russia after President Vladimir Putin’s recognition of two breakaway regions in eastern Ukraine.

Putin’s move marked the beginning of a Russian invasion of Ukraine, US President Joe Biden said in a brief speech on Tuesday.

Besides panning his Russian counterpart for recognising the independence of Luhansk and Donetsk, Biden also slammed Putin for authorising the deployment of Russian troops to the regions.

The sanctions target Russia’s sovereign debt as well as two large Russian financial institutions, including the country’s military bank, Biden was quoted as saying by Al Jazeera.

Also on Tuesday, NATO Secretary-General Jens Stoltenberg said:  “Every indication is that Russia is continuing to plan for a full-scale attack of Ukraine.”

In reaction to Putin’s decision, Germany also stopped the approval of Nord Stream 2, the Russian-owned $11 billion gas pipeline across the Baltic Sea.

The United Kingdom also announced a raft of sanctions, freezing assets of five Russian banks and imposing UK travel bans on three Russian billionaires.

Prime Minister Boris Johnson denounced Russia’s actions as a renewed invasion, calling the sanctions a first barrage.

According to the BBC, Johnson announced the sanctions in a statement to lawmakers, after an emergency meeting on Tuesday.

Russian parliamentarians, who voted to recognise the two Ukrainian areas as independent,, would also be sanctioned, said the Foreign Office.

The European Union has also hinted at targeting members of the Russian parliament and banks financing Russia’s military.

PAN Monitor/mud