Biden, Democrats call for sanctions on Putin, other top Russian officials if Kremlin invades Ukraine

WASHINGTON – The Biden administration and Senate Democrats have teamed up on a proposal to personally sanction Russian President Vladimir Putin and members of his inner circle if the Kremlin invades Ukraine. 

The move comes as U.S. talks with Russia to deescalate the potential military confrontation with Ukraine have stalled. Officials in Washington are eager to put Putin on notice that his own wealth – along with Russia's banking system – are prime targets in the event of a fresh war with Russia's neighbor.  

All U.S. property transactions and interests in property held by Putin and more than a dozen other top officials in Russia’s government and military would be blocked under legislation filed Wednesday by more than two dozen Senate Democrats. The White House quickly announced its support for the measure.

The bill also targets major Russian financial institutions, directs the Biden administration to develop a strategy to bolster Ukraine’s defense capabilities and authorizes $500 million in supplemental emergency security assistance to Ukraine if the event of a Russian invasion.

Particularly irksome to Putin himself, the bill would require the U.S. State Department issue a detailed report on Putin's personal net worth and his assets, along with those of his inner circle. Putin's chief nemesis inside Russia, jailed opposition leader Alexei Navalny, has risen to global prominence in part by working to expose corruption at the highest levels of Putin's government.

“This legislation makes it absolutely clear that the U.S. Senate will not stand idly by as the Kremlin threatens a re-invasion of Ukraine,” said New Jersey Sen. Robert Menendez, chairman of the Senate Foreign Relations Committee.

In addition, the legislation opens the door for more penalties related to the controversial Russia-to-Germany Nord Stream 2 natural gas pipeline. 

The proposed sanctions come as the Biden administration is holding high-stakes diplomatic talks with Russia in Europe this week amid fears that Moscow is planning to invade its neighbor.

Democrats also are trying to head off a vote on a separate Nord Stream 2 bill by Sen. Ted Cruz, R-Texas, that they fear would harm U.S. relations with Germany, a key U.S. ally that, like the rest of Europe, is dependent on imported natural gas.

Russia has amassed 100,000 combat-ready troops backed by tanks, artillery and heavy equipment near Ukraine’s eastern border but insists it has no plans to invade. Russia invaded Ukraine in 2014, and the Biden administration fears Putin is laying the groundwork for another attack.

President Joe Biden has repeatedly warned Putin that further aggression against Ukraine would result in sanctions that would imperil the Russian economy. The diplomatic talks between the U.S. and Russia are an attempt to defuse the possible conflict.

Menendez, however, said he has no reason to believe that Putin is negotiating with the U.S. in good faith. The proposed sanctions would send a message that “Putin need not collapse his entire economy, nor does he need to sacrifice the lives of his own people in a futile attempt to rewrite the map of Europe,” he said.

Targeting the leader of a foreign country with sanctions is unusual, but not unprecedented. Two years ago, the Democratic-led House approved a biting sanctions bill that would have punished Turkish President Recep Tayyip Erdogan personally over Turkey’s assault on U.S.-allied Kurdish forces in Syria.

The legislation, which stalled in the Senate, called for a public assessment of Erdogan’s net worth amid questions about his finances in Turkey.

Supporters of Navalny and his allies have been lobbying Congress and  the Biden administration to sanction a band of wealthy oligarchs and Kremlin operatives closely linked to Putin. Sanctioning Putin's "the cronies and wallets" would be far more effective than previous steps taken by the U.S. and its allies to deter the Russian strongman's tactics, they argue.

More: What is happening at Ukraine's border? Putin's buildup of Russian troops sparks concern

The Democratic legislation unveiled Wednesday could also undermine support for Cruz’s bill, which would impose sanctions on businesses associated with theNord Stream 2 pipeline from Russia to Germany. Nord Stream 2 has been built but has not yet gone into operation.

Biden and U.S. lawmakers have opposed completion of the pipeline because they fear it would give Russia political leverage over European countries by allowing Moscow to control the gas supply. But in May, Biden waived sanctions on the company building the pipeline, arguing that it was almost finished and that imposing sanctions would be counter-productive to U.S.-European relations.

Cruz argues that the odds of Russia invading Ukraine will increase dramatically when Nord Stream 2 goes online. His bill, which is due for a Senate vote this week, would require the president to impose sanctions against the entities overseeing Nord Stream 2, regardless of whether Russia attacks Ukraine.

Republicans argue that Biden and congressional Democrats are kowtowing to Germany and Russia over the pipeline.