US sanctions on Russia have been in effect since 2014, and have only been increased since Biden took office.
The article states that these sanctions could result in increased costs to Americans, which is why he was reluctant to enforce them before now. At this point, it’s intended to be a final squeeze on Putin’s resources before Trump comes in and offers him a third of Ukraine.
It’s up to the lender to accept the settlement. They’re the ones taking the loss. The sale is not the result of financial hardship, so the court cannot force the lender to accept an unreasonably insufficient buyout offer for the loan.