U.S. President Joe Biden introduced on Thursday (February 24) a brand new spherical of sanctions concentrating on Russia after its invasion of Ukraine, charging that Russian chief Vladimir Putin “selected this conflict” and that his nation will bear the results of his motion. Throughout White Home remarks, Biden described Russian President Vladimir Putin as an aggressor who “selected this conflict” and a misguided dream of recreating the Soviet Union. “Putin is the aggressor. Putin selected this conflict. And now he and his nation will bear the results,” Biden mentioned, laying out a set of measures that can “impose extreme price on the Russian financial system, each instantly and over time,” Biden mentioned. The brand new sanctions embrace export blocks on know-how, a centerpiece of Biden’s method that he mentioned would severely restrict Russia’s capacity to advance its navy and aerospace sector. He additionally utilized sanctions on Russian banks and “corrupt billionaires” and their households near the Kremlin. Biden insisted his menace to sanction Putin instantly stays “on the desk” and is “not a bluff,” however he didn’t reply when requested why he hasn’t instantly sanctioned the Russian president but. The steps additionally included concentrating on 5 main Russian banks, together with state-backed Sberbank and VTB, and members of the Russian elite and their households. Sberbank, Russia’s largest lender, will now not be capable of switch cash with the help of U.S. banks. The sanctions are geared toward limiting Russia’s capacity to do enterprise in {dollars}, euros, kilos, and yen, Biden mentioned.
(Reuters)