Biden Blocks New Investment, Trade and Financing in Areas of Ukraine
President Biden signed an executive order on Monday blocking new U.S. investment, trade and financing from flowing into two Russian separatist-held regions in Ukraine, hours after Russian President Vladimir Putin signed a decree recognizing the areas as independent.
The executive order, detailed by the White House shortly after Putin delivered a lengthy address on his decision, also gives Biden the power to “impose sanctions on any person determined to operate in” the so-called Donetsk and Luhansk people’s republics.
“We have anticipated a move like this from Russia and are ready to respond immediately,” White House press secretary Jen Psaki said in a statement, calling Putin’s action a “blatant violation of Russia’s international commitments.”
