The West will limit Russia’s ability to operate in hard currency. This was announced on Thursday, February 24, by US President Joe Biden.
“We will limit Russia’s ability to do business in dollars, euros, pounds and yen, to be part of the global economy. We will stop opportunities for financing and development of the Russian armed forces,” he said, speaking at the White House.
The American leader clarified that he had discussed the upcoming sanctions with G7 partners of the G7.
On the same day, Biden, following a meeting with the leaders of the G7 countries, said that the allies were ready to introduce a “crushing” package of sanctions against Russia.
British Prime Minister Boris Johnson also announced new sanctions against Russia. The Russian companies Aeroflot and VTB fell under them. The sanctions also imply the possibility of limiting the amount of deposits that Russians can keep in bank accounts in Britain, etc.
In addition, Switzerland is also imposing financial sanctions on “three Russian banks” and “travel restrictions” on 361 State Duma deputies.
A day earlier, the European Union officially adopted sanctions against Russia for recognizing the independence of the Donetsk and Lugansk People’s Republics (DNR and LNR). Restrictive measures will be applied against 351 State Duma deputies, as well as against another 27 individuals and organizations.
On February 24, Russian President Vladimir Putin, in his special televised address, announced that a special operation would be carried out in the Donbass in order to protect the civilian population. After that, Vladimir Zelensky accused Russia of hitting the country’s military infrastructure and introduced martial law throughout the country.
On February 21, Putin signed decrees recognizing the independence of the LNR and the DNR. Also, the Russian leader and the heads of both republics Leonid Pasechnik and Denis Pushilin signed agreements on friendship, cooperation and mutual assistance. The documents were ratified the next day by both the republics themselves and the Russian State Duma.
Since 2014, the Ukrainian authorities have been conducting a military operation against the inhabitants of Donbass, who refused to recognize the results of the coup d’état and the new government in Ukraine. At the same time, Kiev blames Moscow for the current situation. Russia has repeatedly stated that it is not a party to the conflict.
The situation in Donbass escalated on February 17, 2022. In the Donetsk and Lugansk People’s Republics, heavy shelling by Ukrainian security forces was reported, including from heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
