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Sen. Sasse on Biden's Sanctions: 'Too Little Too Late'

Sen. Sasse on Biden's Sanctions: 'Too Little Too Late'

Sen. Ben Sasse, R-Neb. (Tasos Katopodis/Pool/Getty Images)

By    |   Tuesday, 22 February 2022 06:51 PM EST

President Joe Biden announced Tuesday what he termed the ''first tranche'' of sanctions against Russia after the administration termed President Vladimir Putin's actions toward Ukraine an ''invasion,'' but GOP Sen. Ben Sasse of Nebraska called the action, mostly freezing Russian bank assets, ''too little too late,'' according to National Review Online.

''First, these sanctions should have happened before Putin further invaded Ukraine — not after,'' Sasse said. ''Second, economic sanctions now need to more aggressively target Putin's oligarchs to make sure they feel real pain. Third, we shouldn't fool ourselves into thinking that today's incremental sanctions will deter Putin from trying to install a puppet government in Kyiv.''

He added that the Biden administration should focus on helping ''the Ukrainian resistance hold on for as long as possible.''

The United States imposed sanctions on Russia's VEB Bank and Promsvyazbank (PSB) and 42 of their subsidiaries on Tuesday, according to a statement from the Department of the Treasury, after Moscow formally recognized two regions of eastern Ukraine as independent.

The sanctions also target ''Kremlin-connected elites'' and impose further restrictions on Russian sovereign debt and economic activity that funds military action.

VEB is crucial to Russia's ability to raise funds, and PSB is critical to Russia's defense sector, the Treasury Department said.

The sanctions ensure that VEB and PSB can no longer do business in the United States and are cut off from the U.S. financial system, according to Treasury, and all assets under U.S. jurisdiction will be immediately frozen. In addition, U.S. individuals and entities are prohibited from doing business with these institutions unless authorized by Treasury's Office of Foreign Assets Control.

The move will inhibit Russia's ability to finance defense-related contracts and raise new funds to finance its war effort against Ukraine, the statement said.

Five Russian-flagged ships connected to PSB were blocked, two crude oil tankers, a cargo vessel and two container ships.

Reuters contributed to this report.

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Politics
President Joe Biden announced Tuesday what he termed the ''first tranche'' of sanctions against Russia after the administration termed President Vladimir Putin's actions toward Ukraine an ''invasion,'' but GOP Sen. Ben Sasse of Nebraska called the action mostly freezing ...
ben sasse, sanctions
319
2022-51-22
Tuesday, 22 February 2022 06:51 PM
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