Biden announces first tranche of Russia sanctions, targets banks and debt

WASHINGTON, Feb 22 (Reuters) - U.S. President Joe Biden on Tuesday announced the first wave of sanctions against Russia for what he said was the beginning of an invasion of Ukraine, and vowed steeper punishments ahead if Russia continues its aggression.

The sanctions, among others things, target Russian banks and sovereign debt.

Reporting By Jarrett Renshaw Editing by Chizu Nomiyama

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