Biden sanctions Russia and its elites, cutting off western financing and access to markets

US President Joe Biden on Tuesday cut off Moscow from western financing and imposed unspecified sanctions on Russian elites in the first tranche of punitive measures in response to the Russian invasion of Ukraine. Speaking at the White House, Biden said there would be more sanctions if Russia moved further into Ukraine, as he expected it would. "If they move further, we have further sanctions ready," he warned, saying everything Russia was doing pointed to a fuller invasion of Ukraine.

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