What to know about new U.S. sanctions targeting Russia over Ukraine
CBSN
Washington — President Biden announced new economic sanctions targeting two key Russian financial institutions and an unspecified number of Russian oligarchs on Tuesday in response to the Kremlin's escalating aggression against Ukraine, penalties that join measures from Western allies that seek to punish Russia for its latest actions.
"This is the beginning of the Russian invasion of Ukraine," Mr. Biden said at the White House. "So I'm going to begin to impose sanctions in response, far beyond the steps we implemented in 2014."
The penalties announced by the president are the "first tranche of sanctions" intended to impose costs on Russia for its latest actions against Ukraine. The president warned that "if Russia goes further with an invasion, we stand prepared to go further as with sanctions."
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