Tensions between Russia and Ukraine have reached boiling point as Russia’s upper house of Parliament has given President Vladimir Putin the green light to utilise forces abroad.
The decision was made hours after Putin deployed troops to two breakaway regions in Ukraine after recognising them as independent, as fears amongst Western powers surge as they worry this could cause a major war, as per EWN.
As Europe braces for a possible Russian invasion of Ukraine, the global diplomatic and economic backlash have been swift for Russia with US President Joe Biden imposing new sanctions on the country.
“This is the beginning of a Russian invasion of Ukraine,” Biden said from the White House.
The sanctions look to cut-off Russia’s sovereign debt, a move that will stop Russia’s government from receiving Western financing, reports Business Insider.
“That means we’ve cut off Russia’s government from Western financing. It can no longer raise money from the West and can not trade in its new debt on our markets or European markets either,” Biden said.
While Moscow has been adamant that they are sending troops to Ukraine territories to serve as “peacekeepers,” Biden has warned that Putin looks to be “setting up a rationale to take more territory by force.”
The US has placed various sanctions on Russia pertaining to Ukraine in the past, but this appears to be quite a significant move by the administration.
It is not clear whether Russia will send troops beyond the two regions it has labelled as “independent.”
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