US President Joe Biden announces new sanctions on Russia after troops invade Ukraine

US President Joe Biden has announced a new round of sanctions targeting Russia after its invasion of Ukraine, charging that Russian leader Vladimir Putin “chose this war” and that his country will bear the consequences of his action.

The new sanctions target Russian banks, oligarchs and high-tech sectors, Mr Biden said.

Along with its allies, the United States will block the assets of four large Russian banks, impose export controls and sanction oligarchs.

Mr Biden also said the US will be deploying additional forces to Germany to bolster NATO after the invasion of Ukraine, which is not a member of the defense organisation.

The penalties fall in line with the White House’s insistence that it would look to hit Russia’s financial system and Putin’s inner circle, while also imposing export controls that would aim to starve Russia’s industries and military of US semiconductors and other high-tech products.

“Putin is the aggressor,” Mr Biden said.

Mr Biden held off imposing some of the most-severe sanctions, including cutting Russia out of the SWIFT payment system — which allows for the transfers of money from bank to bank around the globe — or restricting Russia’s energy sector.

The US President announced the sanctions while Ukraine’s government reported mounting casualties as Russian forces attacked from the east, north and south.

Mr Biden spoke to Americans from the White House, hours after holding a virtual meeting with the leaders of Britain, Canada, France, Italy and Japan.

European Commission president Ursula von der Leyen, European Council President Charles Michel and NATO Secretary-General Jens Stoltenberg also joined the meeting.

Ukrainian police say there have been dozens of attacks by Russian forces across the country.(AP: Evgeniy Maloletka)

Mr Biden also met with his national security team in the Situation Room as he looked to flesh out US moves in the rapidly escalating crisis.

While Mr Biden described the sanctions as severe, Ukrainian officials urged the US and the West to go further and cut the Russians from the SWIFT financial system.

“We demand the disconnection of Russia from SWIFT, the introduction of a no-fly zone over Ukraine and other effective steps to stop the aggressor,” Ukraine President Volodymyr Zelenskyy said in a tweet.


The Biden administration, however, has shown some reluctance to cut Russia from SWIFT, at least immediately, because of concerns the move could also have enormous ramifications for Europe and other Western economies.

Mr Biden, answering questions from reporters, appeared to push a decision on SWIFT to European allies.

“It is always an option but, right now, that’s not the position that the rest of Europe wishes to take,” Mr Biden said.

He also contended that the financial sanctions he announced would be more damaging to Russia.


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