The sanctions were announced by Mr Biden on Tuesday, Feb. 22, means “just the sharp edge of the pain we can cause,” the official said at the time.
“This is the beginning of the invasion and therefore this is the beginning of our response,” the official said, insisting that the package revealed by the US was a harsh punishment for Vladimir Putin’s actions, but did not reflect the full range of US steps taken. ready to accept.
“If Putin continues to escalate, we will intensify by applying financial sanctions and export controls, which we have not yet disclosed.”
Biden also targeted sanctions to completely block two “large Russian state-owned financial institutions that provide key services crucial to financing the Kremlin and the Russian military: Vnesheconombank and Promsvyazbank and their subsidiaries.”
The U.S. has also extended government debt bans “restricting U.S. individuals and businesses from participating in secondary markets for new debt issued by the Central Bank of the Russian Federation, the National Property Fund of the Russian Federation and the Ministry of Finance of the Russian Federation.” .
The President also ordered that the Ministry of Finance will establish that any institution in the sector of financial services of the economy of the Russian Federation is the target of further sanctions.
On Thursday, Biden spoke again to confirm that sanctions are in place to maximize long-term impact on Russia and maximize impact on Europe.
He estimated that the measures would cut off more than half of Russia’s high-tech imports and confirmed that the sanctions would include Russia’s VTB Bank.
It was also announced that the US will impose sanctions on 24 Belarusian individuals and entities for their support of the Russian invasion of Ukraine and two state-owned banks in Belarus – Belinvestbank and Bank Dabrabyt.
A senior U.S. administration official confirmed on Thursday that America still has room to further tighten sanctions if Russian aggression escalates.
On Wednesday, February 23, Japan followed the U.S. and the United Kingdom in announcing sanctions.
Japanese Prime Minister Fumio Kishida said he was imposing sanctions, including a ban on issuing Russian bonds in Japan and a freeze on the assets of some Russian individuals.
Mr Kishida, who also called on Russia to return to diplomatic discussions, said the current situation did not see a significant impact on energy supply in the short term, and said they would consider further steps if the situation worsened. .