Sanctions target Russian banks, oligarchs, and Putin’s neighbors.
President of the United States Joe Biden gave a speech to the nation today on Russia’s invasion of Ukraine.
Biden began his speech by condemning the Russian attack.
– Putin is an attacker, Putin chose the path of war, Biden said.
Biden speaks on new sanctions against Russia against Russian oligarchs and president Vladimir Putin Russia, Russia’s largest banks and Russia’s connections with the outside world.
According to Biden, the new sanctions will hit the Russian economy hard and hamper its ability to trade internationally.
The new banking sanctions will affect four Russian banks with total assets of more than $ 1 trillion, or about € 892 billion.
Biden was asked why he did not decide to exclude Russia from the international payment system SWIFT. According to him, this was due to the fact that not all partner countries in Europe were ready for this.
According to Biden, sanctions will halve Russia’s ability to import high-tech products. This will prevent Russia from modernizing its armed forces.
Biden also said the U.S. is sending more troops to Europe to defend its NATO partners.
The United States also plans to send humanitarian aid to Ukraine.
Biden also said he has no plans to negotiate with Putin anymore. According to Biden, Putin does not intend to be content to take over Ukraine.
– His goal is to restore the Soviet Union, Biden said.