The United States has announced a new wave of sanctions targeting over 50 financial institutions in Russia, aiming to hinder Russia's ability to fund its war in Ukraine. Among these is Gazprombank, Russia's largest bank that was not previously sanctioned by the U.S. These measures also extend to other individuals and entities within the Russian financial sector.
This action is part of President Biden's broader commitment, announced in September, to increase security assistance to Ukraine and implement measures to counter Russia's aggression. The sanctions are designed to degrade Russia’s access to the international financial system, limiting its capacity to sustain its military operations.
In collaboration with the G7 and other allies, the Biden administration has consistently led international efforts to hold Russia accountable. The sanctions announced today continue these efforts, aiming to disrupt Russia's financial systems and diminish its war capabilities. The United States reaffirms its dedication to supporting Ukraine by combining security assistance with stringent enforcement of sanctions and restrictions targeting Russia’s economy and military infrastructure.
President Biden announced nominations for key positions in his administration, focusing on leadership roles in the United States International Trade Commission (ITC) and the Tennessee Valley Authority (TVA). Key nominees and their backgrounds are:
United States International Trade Commission:
Jim Coughlan: Currently Senior VP and General Counsel at the Export-Import Bank of the U.S., with extensive legal and ITC litigation experience. Former Senior Staff Attorney at ITC, counsel to Senator Carl Levin, and judicial law clerk. He holds degrees in mechanical engineering, law, and an LLM.
Halie Craig (Republican): Policy Director for the Senate Commerce Committee Republican staff. Former staff member for Senator Pat Toomey, handling trade policy, USMCA negotiations, and Section 301 duties. She has private-sector experience at Meta and as a trade policy researcher.
Tennessee Valley Authority Board of Directors:
Beth Harwell: Current TVA board member and former Speaker of the Tennessee House of Representatives. She also chaired the Tennessee Republican Party and taught political science. Harwell has nearly 30 years of public service in Tennessee.
Brian Noland: President of East Tennessee State University since 2012, known for increasing graduation and retention rates and leading significant campus improvements. He has emphasized rural health care and academic innovation, launching transformative programs and research centers.
These nominations reflect a bipartisan effort, with diverse experience in law, public policy, education, and corporate leadership.
President Biden issued an Executive Order to establish a second emergency board to address an ongoing labor dispute between New Jersey Transit Rail Operations and its locomotive engineers, represented by the Brotherhood of Locomotive Engineers and Trainmen. The dispute, unresolved under the Railway Labor Act (RLA), was previously reviewed by an emergency board established in July 2024. Still, the recommendations from that board were not accepted by the parties. Under the RLA, the President must appoint a second emergency board upon request. Effective November 22, 2024, this new board will consist of three members appointed by the President, none of whom may have financial or other interests in railroad organizations.
The board is tasked with investigating the dispute and reporting its findings. Within 30 days of its creation, both parties must submit their final settlement offers. The board will then have 30 days to evaluate the proposals and present its selection of the most reasonable offer to the President. During the investigation and for 60 days after the board’s report, the parties are prohibited from altering the conditions of the dispute unless mutually agreed upon. The records and files of the board will be maintained as part of the Office of the President and transferred to the National Mediation Board upon the board’s termination. The board will dissolve once its report is submitted to the President, marking the final step in this effort to resolve the dispute.
The President signed into law:
H.R. 7189, the “Congenital Heart Futures Reauthorization
Act of 2024,” which reauthorizes the National Congenital Heart Disease Research, Surveillance, and Awareness Program.
White House Press Secretary Karine Jean-Pierre held a press briefing highlighting several key topics. On Thanksgiving initiatives, President Biden and First Lady Jill Biden will attend a Friendsgiving dinner with U.S. Coast Guard service members in New York, underscoring their support for military families through the First Lady’s Joining Forces initiative. Economically, Jean-Pierre noted that Thanksgiving meal costs and gas prices have decreased compared to the previous year, with the administration continuing efforts to alleviate financial burdens on American families.
In international relations, President Biden’s upcoming trip to Angola will focus on strengthening U.S.-Africa partnerships and addressing issues like infrastructure, economic development, and regional peace and security. The administration reaffirmed its commitment to fostering these alliances as part of its broader foreign policy goals. Regarding the ongoing conflict in Ukraine, Jean-Pierre emphasized that Russia remains the aggressor and criticized its deployment of North Korean troops. She reiterated the U.S.'s unwavering support for Ukraine through continued military and humanitarian assistance.
In response to Russia’s updated nuclear doctrine, the administration dismissed it as irresponsible rhetoric, stating there is no need to adjust the U.S. nuclear posture at this time. On domestic matters, the administration is working with the Trump-Vance transition team to ensure a smooth power transfer despite delays in signing necessary agreements. Additionally, the U.S. rejected the International Criminal Court's (ICC) decision to issue arrest warrants against Israeli officials, citing procedural flaws and asserting the ICC lacks jurisdiction in the matter.
The briefing also addressed labor concerns following reports of DNC staff layoffs, with Jean-Pierre reaffirming President Biden’s strong pro-union stance and defending his record on supporting workers. On immigration, the administration reported no changes to asylum policies while focusing on enforcement and humane treatment of individuals. The briefing reflected various domestic and international priorities as the administration seeks to maintain momentum in its remaining months.
He emphasized that there is "no equivalence—none—between Israel and Hamas," reaffirming the United States' steadfast support for Israel's security.
The ICC's arrest warrants accuse Netanyahu and Gallant of war crimes and crimes against humanity during the ongoing conflict in Gaza, which has resulted in significant casualties and humanitarian concerns.
In response, the Biden administration has rejected the ICC's jurisdiction over this matter, and National Security Council spokespersons have expressed deep concern over the prosecutor's actions and their potential implications for international law and diplomatic relations.
This development has sparked a range of international reactions. While some countries, including the United Kingdom and the Netherlands, have pledged to comply with the ICC's decision, others, like the United States and Argentina, oppose it, viewing it as biased against Israel.
The situation underscores the complexities of international law and the challenges in addressing alleged war crimes amid ongoing conflicts.
Additional sources: Barron's, AP News, The Times
President Biden announced a U.S. pledge of $4 billion over three years to the International Development Association (IDA), pending Congressional approval. IDA, a branch of the World Bank, supports the poorest and most vulnerable nations through grants and concessional lending. This contribution reaffirms the U.S. as IDA's largest historical donor, aligning with global efforts to address critical challenges like debt burdens, food insecurity, pandemics, and climate change.
Biden emphasized the need for concessional financing to help developing countries invest in essential areas such as healthcare, sustainable food systems, infrastructure, and climate resilience. The initiative supports the broader goals of reducing poverty and achieving Sustainable Development Goals, focusing on governance, gender equality, and economic inclusion.
The President also called on other nations to increase or begin their contributions to IDA and urged international financial institutions, bilateral creditors, and the private sector to support debt-laden countries. His agenda, detailed in the Nairobi-Washington Vision and promoted at the Rio Summit, seeks coordinated global action to ensure sustainable growth and investment for developing nations.
President Biden welcomed the Boston Celtics to the White House to celebrate their 2024 NBA Championship, marking the team’s record 18th title. As an Irish-American with the Secret Service codename "Celtic," Biden expressed personal pride in hosting the event. He praised the team’s hard work, teamwork, and resilience, not only for their accomplishments on the court but also for their extensive charitable efforts in Boston and beyond. Biden highlighted the Celtics’ long-standing history of excellence, referencing their connection to President Kennedy, who first hosted the team in 1963 and emphasized the unifying power of sports. He concluded his remarks with gratitude for their contributions to the community and optimism about America’s strength through unity.
Representatives of the Celtics thanked President Biden for his service and acknowledged the support of Massachusetts political leaders and other distinguished guests. Ownership and team leadership reflected on the honor of achieving their 18th championship and the legacy it represents. They emphasized the Celtics’ dedication to teamwork, perseverance, and giving back to the community, noting their support for nearly 2,000 charities annually. The event showcased the team’s commitment to using their platform for positive change. The celebration concluded with Celtics stars Jayson Tatum and Jaylen Brown presenting the President with personalized gifts as a gesture of appreciation.
President Biden welcomes 2024 NBA champions, The Boston Celtics, to the White House