The Russian leader will become the main target in an attempt to impose costs on the Russian economy and Putin’s inner circle in the wake of Russia’s invasion of Ukraine. One person said additional Russian officials were likely to be included.
The European Union and the United Kingdom announced their intention to impose sanctions targeting Putin and Russian Foreign Minister Sergei Lavrov on Friday.
President Joe Biden had said punishing Putin was an option under consideration, and Caitlan Collins told CNN on Thursday it was “on the table.”
Earlier this week, the US also allowed sanctions on the Nord Stream 2 gas pipeline from Russia to Germany to move forward, after Germany said it would not certify the pipeline after the Russian invasion.
Those sanctions were issued in coordination with European countries to punish Moscow for its attack on Ukraine.
But the White House and the European Union have faced calls from Ukrainian leaders – as well as lawmakers in Congress – to take additional steps, including excluding Russia from the SWIFT financial messaging system used in international transactions, as well as directly targeting Putin.
Punishing Putin himself is unlikely to have a tangible effect on his finances, which remain protected. But there is great symbolism behind this move, which followed Putin’s decision to invade Ukraine.
This story is down and will be updated.