Russia Faces Sanctions
President Joe Biden on Thursday unveiled harsh new sanctions on Russia meant to punish the country for its full-scale invasion of Ukraine, calling out Russian President Vladimir Putin for his aggression even as he acknowledged it would take time for the new measures to alter Putin’s behavior.
“Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences,” Biden said, laying out a set of measures that will “impose a severe cost on the Russian economy, both immediately and over time.”
The new sanctions include export blocks on technology. Like other world leaders, Biden said U.S. sanctions by the Commerce Department will also restrict high-tech trade with Moscow to limit its access to semiconductors needed to manufacture artificial intelligence, aerospace, and defense hardware.
He also applied sanctions on Russian banks and “corrupt billionaires” and their families who are close to the Kremlin.
“Today, I’m authorizing additional strong sanctions, and new limitations on what can be exported to Russia,” Biden said.
“I just spoke with the G-7 leaders this morning,” Biden said Thursday afternoon. “And we’re in full and total agreement: We will limit Russia’s ability to do business in dollars, euros, pounds, and yen to be part of the global economy. We’ll limit their ability to do that.”
The White House has also authorized additional troops to be stationed in Germany as NATO allies look to bolster defenses in Europe, Biden said. But he reiterated that the U.S. would not send troops into Ukraine.
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