President Biden to address US Amid Russian invasion

In News
Joe Biden

Biden slammed Russia for its “unprovoked and unjustified attack” on Ukraine barely minutes after reports of military attacks across the country surfaced. President Donald Trump is poised to unveil a series of new sanctions against Moscow. The US President announced a “first tranche” of sanctions on Russia.

In Summary

• Joe Biden is poised to address the nation on the developing Ukrainian crisis, vowing to make Russia “accountable” for the country’s “unprovoked and unjustified attack.”

• On Thursday, the president is set to unveil a series of sanctions against Russia, and the US President announced a “first tranche” of sanctions on Russia.

• Mr. Biden warned that new sanctions would be imposed if Russia’s invasion of Ukraine escalated.

• The sanctions target two major Russian banks and many Russian elites and their families.

Joe Biden
Demonstrators gather at the White House to protest against the rising tensions between Russia and Ukraine on February 20, 2022 in Washington, D.C. [COURTESY]

President Joe Biden is due to address Russia’s invasion of Ukraine.

President Joe Biden is keen to address the nation on the worsening crisis in Ukraine, following his resolve to hold Russia “accountable” for the “unprovoked and unjustified attack” that has killed around 40 military and ten civilians and sent global markets into freefall.

The president is slated to address the nation at 12 p.m. ET on Thursday, unveiling a series of sanctions against Moscow, including new restrictions on banks and Russian President Vladimir Putin’s close associates.

Russia unleashed a full invasion of Ukraine on Thursday morning, launching a barrage of missile attacks across the country, particularly close to the capital Kiev.

The strikes ensued minutes after Mr. Putin proclaimed the commencement of a “special military operation” in the country.

Mr. Biden stated in a statement that the US, its allies, and partners would respond “jointly and decisively” to Russia’s “premeditated war.”

He later stated that he spoke with Ukrainian President Volodymyr Zelensky and “briefed him on the efforts they are taking to rally worldwide condemnation” ahead of Thursday morning’s meeting with the G7 leaders to discuss Russia’s “severe sanctions.”

Joe Biden
Ukrainian President Volodymyr Zelenskyy [COURTESY]

Biden denounces Ukraine’s ‘unprovoked and unjustified invasion.’

Biden denounced Russia for its “unprovoked and unjustified attack” on Ukraine barely minutes after word of military attacks begun across the country surfaced.

On Wednesday night, about 10:30 p.m. ET, the president pledged that the US would respond “united and decisively” alongside its Allies and partners and that Russia would be held “accountable.”

“The prayers of the entire world are with the people of Ukraine tonight as they suffer an unprovoked and unjustified attack by Russian military forces,” he said.

“President Putin has prepared a war that will bring in catastrophic loss and tremendous misery.

“Russia is solely responsible for the death and destruction caused by this attack, and the United States, its allies, and partners will respond in a united and decisive way. The international family will hold Russia accountable.”

Mr. Biden continued, “I will watch the situation from the White House that evening and will continue to receive regular reports from my national security staff.”

“The prayers of the world are with the people of Ukraine tonight,” he said.

Joe Biden
The official Twitter account of the Minister of Foreign Affairs of Estonia, Eva-Maria Liimets is seen reacting to the news that the German government has decided to stop certification of the Nord Stream 2 gas pipeline in a tweet in this photo illustration in Warsaw, Poland on 22 February, 2022. [COURTESY]

Sanctions the US has already introduced on Russia.

Mr. Biden unveiled what he termed a “first tranche” of sanctions against Russia on Tuesday, warning that additional sanctions would follow if Russia maintained its invasion of Ukraine.

Sanctions against two major Russian banks, “comprehensive sanctions” against Russia’s sovereign debt, and sanctions against many Russian elites and their families with close ties to the Kremlin were included in the measures.

Mr. Biden stated that the US imposed “full blockade sanctions” on VEB.RF – formerly known as Vnesheconombank – and Russia’s “military bank,” freezing their assets in the US, prohibiting them from transacting with the US or Europe, and effectively shutting them out of the global financial system.

The president noted that the two state-owned banks are critical in financing the Kremlin and the Russian military, with a combined asset base of more than $80 billion.

Sanctions on Russia’s sovereign debt included isolating the Russian government from Western financing and barring it from US markets and investors.

“These sanctions will deny Russia’s government of a critical source of funds for funding its priorities and will boost future borrowing costs,” Mr. Biden warned.

Five Russian elites and their family members were also sanctioned with “full blockade,” with Mr. Biden stating that the individuals “directly benefit from their links to the Kremlin.”

“They share in the corrupt benefits of the Kremlin’s policies and should share in the related pain,” he said.

Mr. Biden warned that any Russian financial services company might become a “target” of additional sanctions.

This initial set of sanctions, which were coordinated with those imposed by other nations, came in response to Mr. Putin’s recognition of the two Ukrainian regions of Donetsk and Luhansk as independent states and the deployment of Russian soldiers across Ukraine’s border.

Mr. Biden announced on Wednesday that, following extensive consultation with Chancellor Olaf Scholz, Germany has suspended certification of the Nord Stream 2 pipeline and that the US will penalize Nord Stream 2 AG and its corporate offices.

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