A day ahead of a video meeting between Russian President Vladimir Putin and US President Joe Biden, CNN has reported that Washington is mulling a wide set of sanctions and economic counter-measures, in a bid to deter a possible invasion of Ukraine.
The US has already warned Russia of “severe costs” in the event of an invasion. The CNN report said that the proposed sanctions could target members of Putin’s inner circle as well as Russia’s sovereign debt. There is also a proposal to bar Russia from the SWIFT international payment system used by most banks internationally—a move being discussed as a “nuclear” option.
Russia has been amassing its forces on the border with Ukraine, amid long-running tensions with Kiev including the ongoing conflict in Donbass. While Kiev is accusing Russia of preparing for an invasion, Moscow has said Ukraine has sent half of its army to the Donbass conflict zone. Tensions have burned on since Russia’s annexation of Crimea in 2014
Biden and Putin are scheduled to speak via video link on Tuesday, their first meeting since the Geneva summit in June.
The US has urged a return to the Minsk Accords of 2014 and 2015, which were signed to end the war between Ukrainian government forces and Russian-backed separatists. Russia, in turn, has demanded binding security guarantees that NATO will not expand eastwards and enlist Ukraine as a member.
The Ukraine situation is not the only bone Biden will have to pick with Putin. The US has accused Russian ally Belarus of “weaponising” migrants from the Middle East by encouraging thousands to enter the EU from its territory.
In addition, a cyber security firm found that Russian state hackers believed responsible for last year’s SolarWinds hack continued their efforts this year. The Biden administration has taken a tough stance against Russian hacking on its critical infrastructure, with Biden having raised 16 critical areas that should be “off limits” to cyberattacks.
