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Biden hits Russia with new sanctions for ‘premeditated’ Ukraine attack

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President Joe Biden hit Russia with a wave of sanctions on Thursday after Moscow invaded Ukraine, measures that impede Russia’s ability to do business in major currencies along with sanctions against banks and state-owned enterprises, Reuters reported.

Biden described Russian President Vladimir Putin as an aggressor with a “sinister vision of the world” and a misguided dream of recreating the Soviet Union.

But he held back from imposing sanctions on Putin himself and from disconnecting Russia from the SWIFT international banking system, amid differences with Western allies over how far to go at this juncture and criticism from Republicans that he should have done more.

According to Reuters Ukrainian forces battled Russian invaders on three sides on Thursday, prompting tens of thousands of people to flee their homes.

“This is a premeditated attack,” Biden told reporters at the White House. “Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences.”

Biden said the sanctions were designed to have a long-term impact on Russia and to minimize the impact on the United States and its allies. And he said Washington was prepared to do more.

The sanctions are aimed at limiting Russia’s ability to do business in dollars, euros, pounds and yen. Among the targets were five major banks, including state-backed Sberbank and VTB, as well as members of the Russian elite and their families. Sberbank, Russia’s largest lender, will no longer be able to transfer money with the assistance of U.S. banks.

The White House also announced export restrictions aimed at curbing Russia’s access to everything from commercial electronics and computers to semiconductors and aircraft parts, read the report.

‘DANGEROUS MOMENT’

Biden said NATO would meet on Friday to map out further measures and reiterated that the United States would not engage in war with Russia. But he said the United States would meet its Article 5 commitments, in which NATO members agree an armed attack against one of them in Europe or North America will be considered an attack against them all. Since Ukraine is not a NATO member, those protections do not apply.

Biden said this was “a dangerous moment for all of Europe,” and that he had authorized troops that had been placed on standby to deploy to Germany. He declined to comment on whether he would urge China to join the West’s drive to isolate Russia.

U.S. Senate Republican leader Mitch McConnell said the world was watching how Washington responds, Reuters reported.

He said Congress would support “truly devastating sanctions” against the Kremlin, but he said Biden should have imposed tough sanctions early enough to deter an invasion and weaken Russia.

“Sadly, deterrence after the fact is not deterrence at all,” McConnell said in a statement.

Biden met with his counterparts from the Group of Seven allies and his National Security Council on Thursday, after speaking with Ukrainian President Volodymyr Zelenskiy late on Wednesday.

His announcement represented the second major tranche of sanctions against Russia since Putin earlier this week declared two breakaway regions of Ukraine independent and sent troops there.

The United States had warned it would initiate waves of sanctions against Moscow if it further invaded Ukraine, and Russia’s full-on military assault launched on Thursday led to the latest round of Western penalties, read the report.

White House press secretary Jen Psaki later told reporters the Biden administration believes Putin has “grander ambitions than Ukraine” without offering further details.

On Wednesday Washington imposed sanctions on the company in charge of building Russia’s Nord Stream 2 gas pipeline, and on Tuesday it sanctioned two large Russian financial institutions and Russian sovereign debt along with some members of the Russian elite and their family members.

The moves are aimed at pushing up inflation and interest rates in Russia, lowering purchasing power, investment, growth and living standards, White House economic adviser Daleep Singh told reporters on Thursday.

Biden has become the face of the Western response to Russian aggression at a time when he is battling low poll numbers at home, rising inflation that could be exacerbated by the Ukraine conflict, and looming midterm elections that could hand control of the Senate and House of Representatives from his fellow Democrats to Republicans, Reuters reported.

Officials said he briefed leaders in the U.S. Congress about the Ukraine crisis during a secure call on Thursday.

The White House has warned Americans that the conflict could lead to higher fuel prices in the United States, though it is taking measures to help soften that blow. U.S. officials have been working with counterparts in other countries on a combined release of additional oil from global strategic crude reserves, two sources said on Thursday.

Biden warned oil and gas companies not to “exploit” this moment to raise prices.

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US hits Daesh in Syria with large retaliatory strikes, officials say

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The U.S. military launched large-scale strikes against dozens of Daesh targets in Syria on Friday in retaliation for an attack on American personnel, U.S. officials said.

A U.S.-led coalition has been carrying out airstrikes and ground operations in Syria targeting Islamic State suspects in recent months, often with the involvement of Syria’s security forces, Reuters reported.

President Donald Trump had vowed to retaliate after a suspected ISIS attack killed U.S. personnel last weekend in Syria.

Defense Secretary Pete Hegseth said the strikes targeted “ISIS fighters, infrastructure, and weapons sites” and that the operation was “OPERATION HAWKEYE STRIKE.”

“This is not the beginning of a war — it is a declaration of vengeance,” Hegseth said. “Today, we hunted and we killed our enemies. Lots of them. And we will continue,” he added.

Trump said on social media that the Syrian government fully supported the strikes and that the U.S. was inflicting “very serious retaliation.”

U.S. Central Command said the strikes hit more than 70 targets across central Syria, adding that Jordanian fighter jets supported the operation.

One U.S. official said the strikes were carried out by U.S. F-15 and A-10 jets, along with Apache helicopters and HIMARS rocket systems.

Syria reiterated its steadfast commitment to fighting Daesh and ensuring that it has “no safe havens on Syrian territory,” according to a statement by the foreign ministry.

Two U.S. Army soldiers and a civilian interpreter were killed on Saturday in the central Syrian town of Palmyra by an attacker who targeted a convoy of American and Syrian forces before being shot dead, according to the U.S. military. Three other U.S. soldiers were also wounded in the attack.

About 1,000 U.S. troops remain in Syria.

The Syrian Interior Ministry has described the attacker as a member of the Syrian security forces suspected of sympathizing with Daesh.

Syria’s government is led by former rebels who toppled leader Bashar al-Assad last year after a 13-year civil war, and includes members of Syria’s former Al Qaeda branch who broke with the group and clashed with Daesh.

Syria has been cooperating with a U.S.-led coalition against Daesh, reaching an agreement last month when President Ahmed al-Sharaa visited the White House.

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EU leaders agree joint borrowing to fund Ukraine, setting aside plan to use Russian frozen assets

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European Union leaders decided on Friday to borrow cash to fund Ukraine’s defence against Russia for the next two years rather than use frozen Russian assets, sidestepping divisions over an unprecedented plan to finance Kyiv with Russian sovereign cash.

“Today we approved a decision to provide 90 billion euros to Ukraine,” EU summit chairman Antonio Costa told a news conference early on Friday morning after hours of talks among the leaders in Brussels, Reuters reported. “As a matter of urgency, we will provide a loan backed by the European Union budget.”

The leaders also gave the European Commission a mandate to keep working on a so-called reparations loan based on Russian immobilised assets but that option proved unworkable for now, above all due to resistance from Belgium, where the bulk of the assets is held.

The idea of EU borrowing initially seemed unworkable as it requires unanimity and Hungary’s Russia-friendly Prime Minister Viktor Orban had opposed it. But Hungary, Slovakia and the Czech Republic agreed to let the scheme go ahead as long as it did not impact them financially.

The EU leaders said Russian assets, totalling 210 billion euros in the EU, will remain frozen until Moscow pays war reparations to Ukraine. If Moscow ever takes such a step, Ukraine could then use they money to pay back the loan.

USE OF RUSSIAN ASSETS TO COMPLEX AT THIS STAGE

“This is good news for Ukraine and bad news for Russia and this was our intention,” German Chancellor Friedrich Merz said.

The stakes for finding money for Kyiv were high because without the EU’s financial help, Ukraine would run out of money in the second quarter of next year and most likely lose the war to Russia, which the EU fears would bring closer the threat of Russian aggression against the bloc.

The decision follows hours of discussions among leaders on the technical details of an unprecedented loan based on the frozen Russian assets, which turned out to be too complex or politically demanding to resolve at this stage.

The main difficulty was providing Belgium, where 185 billion euros of the total Russian assets in Europe are held, with sufficient guarantees against financial and legal risks from potential Russian retaliation for the release of the money to Ukraine.

“There were so many questions on the Reparations Loan, we had to go to Plan B. Rationality has prevailed,” Belgian Prime Minister Bart De Wever told a news conference. “The EU has avoided chaos and division and remained united,” he said.

HUNGARY SCORES A WIN

With public finances across the EU already strained by high debt levels, the European Commission had proposed using the Russian assets for a loan to Kyiv or joint borrowing against the EU budget.

Using the latter option allowed Orban to claim a diplomatic victory.

“Orban got what he wanted: no reparation loan. And EU action without participation of Hungary, Czech Republic and Slovakia,” one EU diplomat said.

‘CAN’T AFFORD TO FAIL’

Several EU leaders arriving at the summit said it was imperative they find a solution to keep Ukraine financed and fighting for the next two years. They were also keen to show European countries’ strength and resolve after U.S. President Donald Trump last week called them “weak”.

“We just can’t afford to fail,” EU foreign policy chief Kaja Kallas said.

Ukrainian President Volodymyr Zelenskiy, who took part in the summit, urged the bloc to agree to use the Russian assets to provide the funds he said would allow Ukraine to keep fighting.

“The decision now on the table – the decision to fully use Russian assets to defend against Russian aggression – is one of the clearest and most morally justified decisions that could ever be made,” he said.

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US readies new Russia sanctions if Putin rejects peace deal, Bloomberg News reports

A State Department spokesperson told Reuters it does not preview sanctions.

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The United States is preparing a further round of sanctions targeting Russia’s energy sector to increase pressure on Moscow should it reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter.

A White House official told Reuters that U.S. President Donald Trump had made no new decisions regarding Russian sanctions.

 “It is the role of agencies to prepare options for the president to execute,” the official said.

Bloomberg had reported the U.S. was considering options including targeting vessels in what is known as Russia’s shadow fleet of tankers used to transport exported oil, as well as traders who facilitate such transactions.

The new measures could be announced as early as this week, the report said, adding that Treasury Secretary Scott Bessent discussed the move with a group of European ambassadors this week.

“It is explicitly false to conclude any decisions have been made regarding future sanctions against Russia. As we have said for months, all options remain on the table in support of President Trump’s tireless efforts to stop the senseless killing, and to achieving a lasting, durable peace,” a U.S. Treasury Department spokesperson said.

A State Department spokesperson told Reuters it does not preview sanctions.

Asked about the Bloomberg article, the Kremlin said it had not seen the report but that any sanctions harm efforts to mend U.S.-Russia relations.

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