Paris stated that 488 Russian oligarchs are already under European sanctions
Bruno Le Maire, France’s Minister of the Economy, has pledged that his country will “wage a total economic and financial war on Russia,” outlining how Europe will seek to punish Moscow and President Vladimir Putin over the invasion of Ukraine.
Speaking to Franceinfo on Tuesday, the government minister was clear that sanctions will be “applied” to individuals and entities until “Vladimir Putin returns to better intentions in Ukraine.”
Stating that “488 personalities” have been added to the list of individuals currently under European sanctions over the conflict, Le Maire says France will “target the heart of the Russian system,” including Putin and oligarchs, making clear that the “Russian people will also pay the consequences.”
“The sanctions are effective, the economic and financial sanctions are even extremely effective,” Le Maire said, claiming “Russian foreign exchange reserves are melting like snow in the sun,” as the “ruble has collapsed by 30%.”
Beyond the sanctions that have already been imposed, Le Maire outlined how Europe is seeking to move from freezing assets to the seizure of assets, as the European Union (EU) seeks to make sure “no oligarch will slip through the mesh of our nets.”
While not divulging specific details, Le Maire floated military concerns across the EU, claiming that, in the wake of “this deliberate aggression,” Europe has “become aware of the need to arm itself militarily.”
The comments from the French minister come after Russia’s Permanent Representative to the United Nations, Vasily Nebenzya, claimed that Moscow has no plans to occupy Ukraine following last week’s military assault on its neighbor.
“Occupation of Ukraine is not part of our plans. The purpose of this special operation is to protect people, who have been subjected to abuse and genocide by the Kiev regime for the past eight years. This is why it’s necessary to demilitarize and de-nazify Ukraine,” Nebenzia said, reiterating Putin’s earlier justification for the conflict.
After three days of intense clashes across areas in parts of Ukraine, the number of civilian casualties and damage to critical infrastructure are growing, and the United Nations and its relief partners are working day and night to care for the injured, the Security Council heard on Monday during an urgent meeting on the humanitarian situation in the country.
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The International Criminal Court’s top prosecutor said there was “reasonable basis to believe” that war crimes may have been committed in Ukraine, where 8 years of conflict preceded Russia’s invasion.
Biden’s Burisma board colleague sentenced to prison for securities fraud
Devon Archer, a close friend and former business partner of President Joe Biden’s son Hunter, was sentenced on Monday for defrauding a Native American tribe. A federal judge in New York said Archer may go to prison for a year and a day, as well as serve one year of probation and forfeit $14 million in property.
Archer gained notoriety when it emerged he introduced Hunter Biden – his partner at Rosemont Seneca – to the Ukrainian gas company Burisma back in 2014.
Both Archer and Biden sat on Burisma’s board of directors for years, reportedly being paid over $83,000 a month.
Monday’s sentence is not related to the Ukrainian gas deals, however, but the June 2018 conviction for conspiracy and securities fraud, over Archer’s role in a bond scheme to defraud an Oglala Sioux tribe to the tune of tens of millions.
Archer and two other defendants conspired to have the Wakpamni Lake Community Corporation issue a series of tribal bonds and defrauded both the tribe and the buyers of the bonds while pocketing the profits, the court said in 2018. Archer and another defendant had used the bonds to meet capital requirements in broker deals, and used the profits to buy companies “as part of a strategy to build a financial services conglomerate,” according to the Department of Justice.
On Monday, Judge Ronnie Abrams said the crime was too serious to avoid prison time, but cut the sentence down from the 30 months requested by prosecutors, reportedly citing the Covid-19 pandemic as the reason. He also ordered a one-year probation rather than the requested three years. The US government may also seize up to $14 million in assets owned by Archer as restitution to the tribe.
Abrams also gave Archer 60 days to report to prison, but then said he would set a new surrender date pending appeal.
Archer has appealed the sentence all the way to the US Supreme Court, without success. In November 2021, it emerged that Archer had requested – and Judge Abrams had granted – permission to go on over 40 international trips since his indictment and even conviction.
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