Biden sanctions Russian oligarchs, banks in Ukraine crisis

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Biden sanctions Russian oligarchs, banks in Ukraine crisis
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Ukraine's leader calls up some military reservists

President Joe Biden speaks about Ukraine in the East Room of the White House, Tuesday, Feb. 22, 2022, in Washington. VLADIMIR ISACHENKOV, YURAS KARMANAU, AAMER MADHANI and ERIC TUCKER

The measures, accompanied by the repositioning of additional U.S. 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 region in defiance of U.S. and European demands.

Hopes for a diplomatic resolution to the threat of invasion, which U.S. officials have for weeks portrayed as all but inevitable, appeared to evaporate. U.S. 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.

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. high-tech for its industries and military; and sweeping bans that could cripple Russia’s ability to do business with the rest of the world.

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