US President Joe Biden announces sanctions against Russia

US President Joe Biden has announced the first tranche of sanctions against Russia, including steps to starve the country of financing. US President said, the measures target VEB, Russia's state development bank, and members of the country's elites. Biden said, they share the corrupt gains of the Kremlin policies, and should share in the pain as well.

One of the harshest measures would be to disconnect the Russian financial system from SWIFT,



which handles international financial transfers. US President said, Moscow has started an invasion of Ukraine and threatened tougher steps if Russia continues its aggression.

The announcement came after the European Union unveiled its own sanctions in a coordinated Western effort to pressure Russian leader Vladimir Putin. Biden said the responses have been closely coordinated with our allies and partners.