Biden announces new sanctions on Russia after Ukraine invasion : NPR

President Biden delivers remarks about Russia’s “unprovoked and unjustified” navy invasion of Ukraine on Thursday.

Drew Angerer/Getty Photos

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Drew Angerer/Getty Photos

President Biden delivers remarks about Russia’s “unprovoked and unjustified” navy invasion of Ukraine on Thursday.

Drew Angerer/Getty Photos

President Biden issued a brand new spherical of financial sanctions Thursday meant to punish Russian President Vladimir Putin for attacking Ukraine.

“Putin is the aggressor,” Biden mentioned in remarks on the White Home. “Putin selected this battle and now he and his nation will bear the results.”

The administration introduced the U.S. will block Sberbank — the most important Russian financial institution — from accessing the U.S. monetary system. It additionally introduced new monetary sanctions for VTB, the second-largest financial institution, and three different monetary establishments. The USA and different Western nations agreed to cease exporting high-tech merchandise like semiconductors to Russia. Biden mentioned the actions will hamper Russia’s potential to do enterprise “in {dollars}, kilos, euros and yen.”

“The U.S. stands as much as bullies,” Biden mentioned. “We stand as much as freedom.”

Biden repeated that U.S. troops is not going to be deployed to Ukraine, however reiterated that he has despatched “1000’s of further forces to Germany and Poland” to guard NATO’s japanese flank. Biden mentioned NATO will convene a summit on Friday and that “we’ll be there to convey collectively the leaders of 30 allied nations and shut companions to affirm our solidarity.”

“This can be a harmful second for all of Europe,” Biden mentioned.

“If we do not transfer towards him [Putin] now with these important sanctions, he can be in Poland,” Biden predicted.

Biden mentioned he understood the results on Individuals of Russia’s invasion

Biden vowed that he “will do the whole lot in my energy to alleviate the ache” that Individuals are feeling on the fuel pump as oil costs spike. However, he mentioned, “this aggression can’t go unanswered.”

Biden mentioned that the U.S. and its allies wouldn’t take the step of retaining Russia from utilizing the SWIFT system for world banking transactions as a result of Europe didn’t need to, however he mentioned it could be held in reserve.

Putin, he mentioned, “has a lot bigger ambitions than Ukraine,” including that he thinks the Russian president desires to reestablish the Soviet Union. “If we do not transfer towards him now with these important sanctions,” Biden mentioned, “he can be emboldened.”

The White Home has been saying for weeks that its menace of sanctions was geared toward deterring an invasion. However on Thursday, Biden mentioned the sanctions weren’t anticipated to forestall one. As a substitute, he mentioned, it could take time to have the supposed impression: weakening Russia’s economic system.

Biden additionally once more warned Putin towards conducting cyberattacks towards U.S. corporations and infrastructure, vowing “we’re ready to reply.”

Biden mentioned Putin “can be a pariah on the worldwide stage”

Biden mentioned he spoke Wednesday evening with Ukrainian President Volodymyr Zelenskyy and promised him the U.S. would supply humanitarian help. Biden mentioned Putin has “unleashed an amazing ache” on the Ukrainian folks.

The Treasury Division mentioned in an announcement that each day, Russian monetary establishments conduct about $46 billion value of overseas trade transactions globally, 80% of that are in U.S. {dollars}. “The overwhelming majority of these transactions will now be disrupted,” in response to the assertion. “The Russian monetary establishments topic to at the moment’s motion can now not profit from the exceptional attain, effectivity, and safety of the U.S. monetary system.”

Funds for power can be allowed, the Treasury Division confirmed, in addition to funds for agricultural and medical commodities.

Six Russian people have been added to the sanctions checklist — two banking executives and 4 relations of different officers deemed near Putin.

New sanctions take intention at slicing Russia off from essential know-how

The Commerce Division on Thursday unveiled its new export controls for Russia, saying that semiconductors, computer systems, telecommunications, info safety gear, lasers and sensors can be topic to the brand new bans. As well as, 49 Russian navy finish customers have been added to a management checklist.

The division mentioned comparable measures can be taken by the EU, Japan, Australia, United Kingdom, Canada and New Zealand, and that extra international locations have been anticipated to affix.

Thursday’s sanctions comply with measures Biden introduced Tuesday. The primary wave of sanctions towards Russia focused two Russian monetary establishments together with the federal government’s potential to entry Western financing. There have been additionally sanctions towards the Russian-owned firm constructing the Nord Stream 2 pure fuel pipeline.

Biden has warned that these have been the primary “tranche” of sanctions and that the administration would ratchet up the response primarily based on Russia’s subsequent steps. Senior administration officers say the group of Russian elites and their relations who’re being sanctioned have “shared within the corrupt beneficial properties of the Kremlin, and they’re going to now share within the ache.”

In the meantime, the administration and bipartisan members of Congress have been discussing offering further help to Ukraine and allies and companions.

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