Russia Ukraine news: Biden stifles trade and investment in areas of Ukraine recognised by Russia as independent
Russia Ukraine news: Biden stifles trade and investment in areas of Ukraine recognised by Russia as independent
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On Tuesday, US President Joe Biden signed an executive order prohibiting commerce and investment in areas of Ukraine recognised as autonomous by Russian President Vladimir Putin. Economic measures are in the works, according to the White House, which branded Russia’s conduct as a flagrant breach of Moscow’s international obligations.

Putin made the announcement as he worsened the Ukrainian situation by declaring two Russian separatist-controlled districts in Ukraine independent.

“We expected this from Russia and are prepared to respond right away,” White House Press Secretary Jen Psaki said.

According to her, Biden’s Executive Order forbids new US investment, trade, and funding to, from, or in Ukraine’s “so-called DNR and LNR territories.”

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The executive order also gives the president the power to impose penalties on anyone found operating in Ukraine’s conflict zones.

“To be clear, these measures are distinct from and in addition to the swift and severe economic measures we’ve been planning in coordination with allies and partners should Russia continue to invade Ukraine,” she said, adding that the US is still consulting allies and partners, including Ukraine, on next steps and Russia’s ongoing escalation along the Ukrainian border.

On Monday, Biden discussed Russia’s continued escalation along Ukraine’s borders with French President Emmanuel Macron and German Chancellor Olaf Scholz.

“The leaders slammed President Putin’s recognition of Ukraine’s DNR and LNR regions as “autonomous.” “They talked about how they’ll keep working together on next steps,” according to the White House.

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Biden spoke with Ukrainian President Volodymyr Zelenskyy shortly after to reiterate the US support to Ukraine’s sovereignty and territorial integrity.

“Biden was outspoken in his opposition to Russian President Vladimir Putin’s plan to apparently recognise the “independence” of Ukraine’s DNR and LNR regions. According to the White House, he briefed President Zelenskyy on the US response, including sanctions preparations.

Chairman Michael McCaul of the House Foreign Affairs Committee and Chairman Mike Rogers of the House Armed Services Committee issued a joint statement demanding that the US pay real consequences for this blatant act of aggression and flagrant violation of Ukraine’s sovereignty and territorial integrity.

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“Unfortunately, the measures proposed by the White House thus far are ineffectual. They declared, “This is not the moment for symbolic pinpricks that will only serve to empower Putin and injure our friends in Ukraine,” in response to claims that Putin is sending forces into the Donetsk and Luhansk regions under the guise of “peacekeepers.”

“Now is the time for President Biden to impose sanctions that hit Russia’s economy square in the face and permanently end Nord Stream 2 as he promised the world,” the two Republicans said.