WASHINGTON, United States — US President Joe Biden on Thursday unveiled “severe” economic sanctions to make President Vladimir Putin a “pariah” for invading Ukraine, but admitted there was a lack of Western unity for adopting an even tougher move.
Biden said during his speech from the White House that four more banks—including the two biggest, Sberbank & VTB— would be hit with sanctions by Western sanctions. Moreover, export restrictions on sensitive components would “cut off more than half of Russia’s high-tech imports.”
“This is going to impose severe cost on the Russian economy, both immediately and over time,” Biden said.
Biden said those measures, on top of a raft of other sanctions already announced this week, will make Putin “a pariah on the international stage”.
“Any nation that countenances Russia’s naked aggression against Ukraine will be stained by association,” he said.
Biden said that no attempt has been made to directly sanction Putin, who is generally thought to have acquired a huge, secret fortune over his two decades in power.
He also stated that the much-discussed decision to exclude Russia from the SWIFT international payments system—effectively crippling the country’s banking sector—was not happening.
Ukraine appealed on Thursday for Russia to be removed from SWIFT, but Biden stated that the Western coalition could not reach an agreement.
“It is always an option but right now that’s not the position that the rest of Europe wishes to take,” he said.
G7 closes ranks
Biden addressed the country following an hour and ten-minute virtual closed-door meeting with the Group of Seven.
The group of rich Western democracies—Britain, Canada, France, Germany, Italy, Japan and the United States—said it was standing firm against Russia’s “threat to the rules-based international order.”
G7 leaders, according to Biden, “decided to press forward on devastating packages of sanctions and other economic measures to hold Russia to account. We stand with the brave people of Ukraine.”
The seven industrial powers also stated in a joint statement that they were “ready to act” to limit disruptions to global energy markets caused by Moscow’s assault on Ukraine, with sanctions already targeting a major pipeline from heavyweight energy producer Russia.
In London, Prime Minister Boris Johnson announced that Britain was freezing the UK assets of Russian titans in banking and arms manufacture, penalizing five more oligarchs, and prohibiting Aeroflot from operating in the country.
Germany’s vice chancellor, Robert Habeck, said Thursday that the Western sanctions intended to “cut off the Russian economy from industrial progress (and) dramatically limit access to the European and American markets.”
?SUCK IT UP ZELENSKY…… YOU’RE AN IDIOTIC FOOL, the U.S., EU & NATO been USING YOU & UKRAINE, THEY will NOT COME DEFEND UKRAINE & your PRESIDENCY, it’s BETTER 4 your MILITARY to TOPPLE you OUT!!
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