In his most forceful response to Vladimir Putin’s invasion of Ukraine, President Joe Biden vowed to inflict massive economic pain on Russia as he announced new strong sanctions and limitations on Moscow.
The US president slammed his Russian counterpart as a “bully” who “chose the war” and said Russia will face the consequences because of it.
“Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences,” Biden said in remarks at the White House.
“This is going to impose severe cost on the Russian economy, both immediately and over time,” Biden said of the new sanctions. “We have purposefully designed these sanctions to maximize a long-term impact on Russia and to minimize the impact on the United States and our allies,” he added.
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“The United States is not doing this alone,” he said, adding that the 27 EU members and G7 members will participate in these sanctions.
The new sanctions he announced include limiting Russia’s ability to do business in dollars, euros, pounds and yen to be part of the global economy, stop the ability to finance and grow the Russian military, and impairing their ability to compete in high-tech 21st-century economy.
“We’re also blocking four more major banks. That means every asset they have in America will be frozen,” Biden said.
