Ukraine crisis: which sanctions are the EU and the US now imposing on Russia? | DW News

US President Joe Biden announced a "first tranche" of economic penalties against Russia on Tuesday. The sanctions target Russia’s VEB and Promsvyazbank banks. Biden added that sanctions against Russia’s sovereign debt meant that "we’ve cut off Russia’s government from Western financing."
EU foreign affairs chief Josep Borrell said the raft of penalites "will hurt Russia, and it will hurt a lot.’‘

The measures will now be formally approved by Brussels as part of the EU’s response to Russian President Vladimir Putin’s recognition of two breakaway regions in eastern Ukraine.

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