Biden Looks to ‘Ratchet Up the Pain for Putin’ With New Sanctions After Atrocities
Following accusations of civilian murder, rape, and torture in Bucha, Ukraine, the US and its allies imposed further sanctions against Russia on Wednesday, intending to further stifle the invading nation’s economy and deter its aggression.
The United States, the European Union, and the G7 countries announced: “full blocking measures” against Russian President Vladimir Putin’s adult children, Foreign Minister Sergei Lavrov’s family, and other Russian elites and former political leaders. President Joe Biden will also bar any new American investment in Russia, regardless of where they are currently based.
“There are significant war crimes going on,” President Joe Biden declared in Washington to union members. The US and its allies will keep increasing the economic costs, increasing Putin’s agony and increasing Russia’s economic isolation, Biden said.
The US and its partners’ sanctions will also freeze the assets of Russia’s largest financial institution, Sberbank, which controls about a third of the country’s banking sector. ABL. The new regulations also bar American business.
The US Treasury also prohibits Russia from paying its debts with cash subject to US jurisdiction, the White House said. A global financial pariah, Russia must now choose between draining available money to make debt payments or defaulting, the White House stated in its declaration.
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The sanctions are meant to punish Russia for its brutal invasion of Ukraine while also crippling the economy. Financial sanctions are one method to deprive Russia’s elite of their opulent lifestyle while making the war unaffordable.
The steps came amid photographs and stories of a bleak sight in Bucha, near Kyiv. Body strewn streets and mass graves, some with hands tied behind their backs.
An outraged Biden told the North American Building Trades Union that it gives “a sense of cruelty and inhumanity left for the world to see.”
Earlier in the day, Attorney General Merrick Garland said the Justice Department is aiding international investigations into suspected Russian war crimes.
We saw dead citizens, some with chained wrists, on the streets. The world is watching Ukraine. So does the Justice Department,” Garland told reporters. “This department has a lengthy history of helping prosecute war criminals.”
Garland also stated he was investigating Russian tycoon Konstantin Malofeyev. Garland claimed the crackdown on oligarchs would not stop with Malofeyev.
“You can sail your yacht wherever. No matter how cleverly you hide your wealth. No matter how effectively you hide your malware or your assets, “He said. In a statement, the DOJ said it will “use all available tools” to discover you, disrupt your plans
A no-fly zone over Ukraine has been proposed by Ukrainian President Volodymyr Zelenskyy. That would include US pilots shooting down Russian jets, according to Biden.
Biden released $100 million in military aid to Ukraine on Wednesday.
“More Javelins to our Ukrainian colleagues,” Secretary of State Antony Blinken said on MSNBC’s “Andrea Mitchell Reports” on Wednesday.
“To put this in perspective, for every Russian tank in Ukraine, we have delivered or will shortly provide ten anti-tank systems,” Blinken stated.
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So they are prepared to fight the planes and tanks attacking their cities. And we’ll keep acquiring them “he
According to Biden’s remarks to labor union members, Russia’s GDP is expected to decline by double digits this year.
The president stated that “modern weapons and ammunition are streaming in every single day” to support Ukraine.
But Biden cautioned that the fight might drag on.
“Today, Kyiv stands and that administration (of Zelenskyy) still presides,” Biden remarked. But “This battle is not over. This war may last a long time.”