Analysis: Are US Sanctions Against Putin Too Weak? Or Does Biden Have A Secret Cyber Plan In Waiting?

U.S. President Joe Biden offered a second round of economic sanctions on Russia aimed primarily at the nation’s banking industry. But the president acknowledged his first round of sanctions unveiled Wednesday and his repeated threats to enact financial hardship on Russia have yet to make an impact on President Vladimir Putin’s decision to invade Ukraine.

However, a news report has surfaced that the Biden administration might be taking a proactive approach to dealing with the Putin regime rather than a reactive strategy via a cybersecurity assault that would disrupt the Russian presence in Ukraine.

See Also: How The Markets Are Reacting To Russia's Invasion Of Ukraine

What Happened: Speaking from the East Room of the White House, Biden expanded the U.S. sanctions to include five Russian banks — Novikom, Otkritie, Sberbank, Sovcom and VTB — that hold a combined $1 billion in assets. Biden also expanded sanctions against 10 Russian nationals, including financial services executives and those with close ties to Putin.

“Putin is the aggressor,” Biden said. “Putin chose this war, and now he and his country will bear the consequences. Putin will be a pariah on the international stage.”

The Biden administration, through the U.S. Department of the Treasury’s Office of Foreign Assets Control, also sanctioned 24 Belarusian individuals and entities, citing their participation in Ukraine invasion.

What Didn’t Happen: Biden stopped short of including Putin himself as a target of sanctions, nor did he acknowledge requests from Ukraine’s government to seek the expulsion of Russia from the SWIFT international banking system. Biden also didn't enact sanctions on other parts of the Russian economy, including the energy and agriculture sectors that are crucial to the nation’s financial vitality.

At first, Biden was defensive that he wasn't going far enough.

“The sanctions we imposed exceed SWIFT,” Biden insisted. “The sanctions we imposed exceed anything that’s ever been done. The sanctions we imposed have generated two-thirds of the world joining us. They are profound sanctions. Let’s have a conversation in another month or so to see if they’re working.”

When pressed further, Biden seemed to shift gears and declare that the announcement of sanctions couldn't stop the invasion and ongoing occupation from taking place.

"No one expected the sanctions to prevent anything from happening," Biden stated. "It has to — it's going to take time, and we have to show resolve. So, he knows what is coming. And so the people of Russia know what he's brought on them."

See Also: Analysis: 5 Major Economies Whose Leaders Refuse To Condemn Putin's Invasion Of Ukraine

What Could Happen: Biden repeated there would be no direct military intervention on behalf of Ukraine, but would “defend our NATO allies and reassure those allies in the East. As I made crystal clear, the United States will defend every inch of NATO territory with the full force of American power."

A report by NBC News is suggesting the president is considering a direct confrontation against Russia in cyberspace. According to “two U.S. intelligence officials, one Western intelligence official and another person briefed on the matter,” U.S. intelligence and military specialists have outlined a cyber strategy designed to wreak havoc on internet connectivity across Russia, shut down the nation’s electric power and disrupt railroad switches to slow Russia’s ability move troops by train.

“You could do everything from slow the trains down to have them fall off the tracks,” said one of the unnamed sources.

Still, a U.S. cyberattack could provoke a Russian response of the same caliber, and one of the unnamed sources claimed the U.S. action “will be harsh and measured, but not so severe as to encourage Putin to take more drastic steps.”

What Else Happened: In Canada, Prime Minister Justin Trudeau unveiled his own slate of sanctions against Russia.

According to a CBC report, the Canadian sanctions target 62 individuals and entities, primarily Putin inner circle members and the nation’s banks. But unlike the U.S., Canada went further by halting the issuance of export permits for Russian products and canceling existing permits. Foreign Affairs Minister Mélanie Joly said the freezing of permits covers goods worth more than $700 million and including aerospace parts, technology and minerals.

“These sanctions are wide-reaching,” Trudeau said. “They will impose severe costs on complicit Russian elites, and they will limit President Putin's ability to continue funding this unjustified invasion.”

Photo: The White House