WASHINGTON: US President Joe Biden will sign an executive order prohibiting Americans from conducting business in the two Ukrainian areas that Russia has recognised as autonomous entities, according to White House press secretary Jen Psaki.
"President Biden will soon issue an Executive Order (EO) prohibiting new investment, trade, and financing by US persons to, from, or in Ukraine's so-called DNR and LNR regions," Psaki said in the statement, referring to the Russian abbreviations for the "Donetsk People's Republic" and the "Lugansk People's Republic," two self-declared republics founded by anti-government militia groups in Ukraine's Donetsk and Luhan
On Monday, Psaki added, "This EO will also provide authority to impose sanctions on any person determined to operate in specific areas of Ukraine."
"Additional information will be released soon by the Departments of State and Treasury. We will also announce additional sanctions in the near future in response to Russia's flagrant violation of its international obligations today." The presidential order is distinct from the economic sanctions that the US is ready to impose on Russia if it invades Ukraine.
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