President Joe Biden on Tuesday said that the United States will impose sanctions “far beyond” the ones that the United States imposed in 2014 following the annexation of the Crimean peninsula. “This is the beginning of a Russian invasion of Ukraine,” Biden said in a White House speech, signaling a shift in his administration’s position. “We will continue to escalate sanctions if Russia escalates,” he added. Russian elites and their family members will also soon face sanctions, Biden said, adding that “Russia will pay an even steeper price” if Moscow decides to push forward into Ukraine. Two Russian banks and Russian sovereign debt will also be sanctioned, he said. Also in his speech, Biden said he would send more U.S. troops to the Baltic states as a defensive measure to strengthen NATO’s position in the area. Russia shares a border with Estonia, Latvia, and Lithuania. A day earlier, Russian President …
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