US, Western Allies Strengthen Economic Penalties Against Russia

On the eve of President Biden’s first State of the Union address, the United States and its western allies ratcheted up sanctions on Russia and support for Ukraine as the embattled nation offers unexpectedly fierce resistance to the Russian invasion, now in its fifth day.

The U.S. government and Europe Monday put into effect sweeping new penalties aimed at crippling Russia’s economy, effectively cutting Russia off from its financial reserves. The actions prevent all people in the United States and European Union from trading with Russia’s central bank.

“Russia’s economy was already showing signs of severe distress before the new measures were implemented,” the Washington Post reported, “with crowds of Russians rushing to withdraw cash from ATMs and the value of the nation’s currency plunging dramatically.”

Also on Monday, Russian and Ukrainian delegations met near the border with Belarus, holding their first talks since the invasion started. After five hours of discussions, the meeting ended with an agreement to continue talks in the coming days.

The worldwide attention on Ukraine has forced President Biden to shift the focus of his address to Congress Tuesday night. Reports suggest the address will capitalize on the generally uniform condemnation of Russian President Vladimir Putin and praise for Ukrainian President Zelensky and the Ukrainian people.

Oklahoma Congressman Tom Cole (R-OK4) wrote a letter to President Biden, offering him some political advice on the content of the speech:

“At this moment of supreme international crisis, you should eschew discussions about domestic politics where Republicans and Democrats understandably differ. Instead, focus on something that unites us — opposing aggression against an innocent democratic neighbor and protecting a rules-based international order that protects the weak against the exploitation of the strong.”

Rep. Cole also urged the president to announce still-tougher sanctions against Russia, including suspending the purchase of Russian oil.

Senator James Lankford (R-OK) has strongly condemned Putin as a “murderous dictator,” while at the same time stating that Biden’s weak international leadership, along with an energy policy that has increased U.S. dependence on foreign oil, are also to blame.

“The result of that policy is all those things empower Putin’s Russia so Putin can get more money from his oil and gas sales and use that money to murder his neighbors,” said Lankford in an interview on Newsmax Saturday. “So, the environmental left and their policies, and Biden going along with all that is directly connected to Putin being in power to be able to attack Ukraine.”