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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
President Joe Biden's announcement today included some of the most serious sanctions levied against Russia, far exceeding the sanctions imposed on Russia after its annexation of Ukraine in 2014. But they also left room for further action, including sanctions against Russian President Vladimir Putin himself, although those may be difficult to impose given the shadowy nature of Putin’s financial holdings. The US administration also continued its effort to control the narrative with the scheduling of condemnation motions at the United Nations. But the president made clear that US troops were to defend NATO countries and not to fight in Ukraine. While that was intended to deter Putin’s more expansionist agenda, it did leave Ukraine vulnerable to the onslaught of Russian troops.
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