Biden announces sanctions against Russian oligarchs, banks | AP News

Both leaders signaled that an even bigger confrontation could lie ahead.

troops to the Baltic nations on NATO’s eastern flank bordering Russia, came as Russian forces rolled into rebel-held areas in eastern Ukraine after Putin said he was recognizing the independence of the separatist regions in defiance of U.S.

“We are united in our opposition to Russian aggression.” When it comes to Russian claims of a justification or pretext for an invasion, Biden said, “None of us should be fooled.

Secretary of State Antony Blinken canceled plans for a Thursday meeting in Geneva with his Russian counterpart, saying it would not be productive and that Russia’s actions indicated Moscow was not serious about a peaceful path to resolving the crisis.

Germany also said it was halting the process of certifying the Nord Stream 2 gas pipeline from Russia — a lucrative deal long sought by Moscow but criticized by the U.S.

The U.S., meanwhile, moved to cut off Russia’s government from Western finance, sanctioning two of its banks and blocking it from trading in its debt on American and European markets.

Biden, though, did hold back some of the broadest and toughest of the financial penalties contemplated by the U.S., including sanctions that would reinforce the hold that Germany put on any startup of the Nord Stream 2 pipeline; an export ban that would deny Russia U.S.

is sending about 800 infantry troops and 40 attack aircraft to NATO’s eastern flank from other locations within Europe, according to a senior defense official.

Putin said the crisis could be resolved if Kyiv recognizes Russia’s sovereignty over Crimea, the Black Sea peninsula that Moscow annexed after seizing it from Ukraine in 2014, renounces its bid to join NATO and partially demilitarizes.

The EU announced initial sanctions aimed at the 351 Russian lawmakers who voted for recognizing the two separatist regions in Ukraine, as well as 27 other Russian officials and institutions from the defense and banking sectors.

Western leaders have long warned Moscow would look for cover to invade — and just such a pretext appeared to come Monday, when Putin recognized the independence of the Donetsk and Luhansk separatist regions.

Senators had been considering a sanctions package but held off as the White House pursued its strategy.

If Putin pushes farther into Ukraine, NATO chief Jens Stoltenberg insisted the West would move in lockstep.

The head of the National Security and Defense Council, Oleksii Danilov, said earlier this year that Ukraine can call up up to 2.5 million people.

Jill Lawless in London; Lorne Cook in Brussels; Barry Hatton in Lisbon, Portugal; Dasha Litvinova in Moscow; Geir Moulson and Frank Jordans in Berlin; Edith M.

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