Biden explained that the sanctions are imposed in response to Russian aggression in Ukraine.
US President Biden announced collective sanctions against Russia due to the invasion of Ukraine, which, according to him, will have a devastating impact on Moscow.
In addition to the new list of sanctions against Russian officials and their families, the US imposes restrictions on borrowing in the US and EU markets for the largest Russian state-owned companies.
Among the individuals who fell under the restrictions were the sons of a member of the Security Council Sergei Ivanov, the head of Rosneft Igor Sechin and the head of the FSB Nikolai Patrushev.
The package of blocking sanctions also includes four Russian banks, including VTB, Otkritie, Sovcombank, Novikombank.
The sanctions package also includes Russia’s restrictions on doing business in dollars, euros, pounds and yen, which will undermine Russia’s ability to compete with other countries.
Biden also announced that sanctions have been imposed on Russia’s export and import restrictions on high-tech products by 50%.
The US President assured that these sanctions will directly affect the possibility of modernization of the (Russian) military industry and will damage the aerospace industry, including the space program, damage shipbuilding and hit economic competitiveness.
So far, the United States does not intend to disconnect Russia from the SWIFT international payment system. In addition, the United States is considering the possibility of imposing sanctions personally against Vladimir Putin.
Meanwhile, according to CNN correspondent Phil Mattingly, Sberbank and Gazprombank were also sanctioned.
During the press conference, Biden explained that the sanctions are imposed in response to Russian aggression in Ukraine. The American leader explained that having embarked on this path, it was Russia that rejected all attempts by the United States to resolve the security issue.
Putin’s statements about Ukraine’s aggression, as Biden stressed, are senseless and unsubstantiated, and Russia’s actions are unfounded.
Now, in his opinion, negotiations with Putin are useless and he does not intend to conduct them yet, explaining that today Russian-American relations are experiencing a complete rupture and now Russia is facing cold days.
Biden assured that Putin’s “aggression” will cost Russia dearly, and the Russian president himself will become an “outcast” in the international arena.
Nevertheless, the US armed forces do not plan to defend Ukraine, he noted. On the contrary, he plans to send additional forces to strengthen the positions of NATO and allies on the eastern flank.
Earlier, Topnews wrote that Britain banned Aeroflot flights and announced the rejection of Russian oil and gas, and the EU published a sanctions list of more than 300 Russians.