Staff Reports
The Biden administration seems determined to flex its muscles on the international stage, but not without a heavy dose of virtue signaling. On a Thursday that could have easily been scripted for a Hollywood action flick, over 50 individuals in Russia’s financial sector found themselves on the receiving end of U.S. sanctions. Gazprombank, the largest Russian bank still dancing through the financial system without U.S. penalties, is now in the crosshairs, proving that Uncle Sam hasn’t entirely lost his touch—though some might argue it’s more like a gentle nudge than a full-on smackdown.
National Security Adviser Jake Sullivan rolled out the red carpet for this announcement, declaring it aimed at curtailing what he described as Moscow’s “abuse” of the global financial system to back its ongoing squabble with Ukraine. The idea seems straightforward: if the U.S. stifles Russian financial avenues, the Kremlin’s ability to fund its military efforts will be jeopardized. Propaganda? Perhaps. But is it also a great way for Biden to show he’s still got some fight left in him as his administration winds down? Absolutely.
Injecting a little fire into the mix, Biden has authorized the use of U.S. missiles by Ukraine deep into Russian territory, igniting the Kremlin’s ire faster than a Fourth of July firecracker. This bold move certainly sends a message, albeit one that may have the unintended consequence of raising the stakes—after all, poking the bear tends to lead to some interesting responses, like Russia launching intercontinental ballistic missiles in retaliation. Meanwhile, it raises eyebrows at home surrounding the efficacy of an administration that appears to be more about escalation than resolution.
In the midst of this international chess match, President-elect Donald Trump is keeping everyone on their toes with a more skeptical approach to Ukraine. While Biden is swinging for the fences, Trump promises a swift end to the conflict. Yet the catch remains: how to wrap this up without handing over chunks of Ukrainian land to the Russians—a deal that would surely have President Zelenskyy sharpening his communication skills in preparation for a public relations nightmare.
Biden sanctions major Russian bank Gazprombankhttps://t.co/l0mTwClyyo pic.twitter.com/OgCinjWPRu
— The Washington Times (@WashTimes) November 21, 2024
The U.S. Treasury Department, which remains a key player in this melodrama, insists that Gazprombank is integral to Russia’s war machine—it funds military supplies, pays soldiers, and provides benefits for the families of troops lost in battle. Previous sanctions from allies like Australia, Canada, and the U.K. serve as a strong reminder that this is a concerted effort. However, with sanctions come intricate webs of legality, as American entities are legally barred from dealing with these targeted banks—both to uphold the law and to ensure that non-Americans don’t find loopholes to sidestep the fallout.
As the political theatre unfolds, one can almost expect the cast of characters to become ever more colorful. The stakes are high, the rhetoric has ramped up, but whether this leads to an actual decrease in Russian aggression or simply turns into the next round of geopolitical bluff remains to be seen. In the meantime, the world watches, popcorn in hand, while hoping for a resolution that doesn’t leave Ukraine in tatters or usher in another cold war standoff.
