US Officials: Biden to sanction hundreds of Russian lawmakers as soon as Thursday – WSJ

Anil Panchal FXStreet

“The Biden administration is preparing new sanctions on most members of Russia’s State Duma, the lower house of parliament, as the US continues its crackdown on Moscow over its ongoing war against Ukraine,” said Wall Street Journal (WSJ).

The news cites unnamed US Officials to hint that the announcements could come as soon as Thursday.

Also portraying the Ukraine-Russia tussles were the latest comments from Ukraine’s President Volodymyr Zelenskyy who said, “Talks with Russia are difficult, at times confrontational.” Kyiv’s leader also adds, “100,000 people were living in the besieged city of Mariupol in inhuman conditions, without food, water or medicine.”

Furthermore, a leaders’ statement from the North Atlantic Treaty Organization (NATO), shared by Nikkei, also highlight grim concerns. “The North Atlantic Treaty Organization (NATO) has begun coordinating to express concern about cooperation between Russia and China in a joint statement to be finalized at the emergency summit on the 24th,” said the news.

Nikkei also mentioned, “If China supports Russia in military and economic terms, Russia's invasion of Ukraine will regain momentum, and the conflict with the United States and Europe may intensify.”

Market implications

Alike the previous versions, the latest Ukraine-Russia negatives have been less effective and couldn’t stop the S&P 500 Futures from printing mild gains above 4,500.

Read: Forex Today: Dollar gives up despite worrisome developments

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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