Biden Sanctions Russian Banks, Elites, Family Members

On Tuesday, Joe Biden spoke to the nation about the conflict between Russia and Ukraine. The president announced that a round of sanctions will be imposed against Russia with more to come if the escalation continues. Biden said, “Russia has now undeniably moved against Ukraine by declaring these independent states. So today, I’m announcing the first tranche of sanctions to impose costs on Russia in response to their actions yesterday.

These have been closely coordinated with our allies and partners and we’ll continue to escalate sanctions if Russia escalates.” Biden went on to explain the sanctions will be imposed specifically on certain Russian banks, elites, and family members. With the full-scale invasion of Ukraine now underway, the Biden administration is expected to announce its next tranche of sanctions against Russian entities.

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