The Moscow government has issued a “vigorous” and “painful” response to US sanctions against Russia. According to the Russian Foreign Ministry, the US sanctions are “counterproductive” and harmful to the United States.

 

US President Joe Biden announced the first measures a day earlier after Russia recognised the renegade pro-Russian regions of Donetsk and Luhansk in eastern Ukraine and sent so-called peacekeepers there.

According to Biden, this has started the invasion of Ukraine.

The US sanctions target two major banks, Russian traders and supporters of Russian President Vladimir Putin and his family. US banks are also banned from trading Russian government bonds, cutting off Russia’s access to western capital markets. In the event of a further escalation, more measures will follow.