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President Joe Biden imposed additional sanctions Thursday that he said “will impose severe costs on the Russian economy” following Russian President Vladimir Putin’s sweeping invasion into Ukraine.
“Putin is the aggressor,” Biden declared at the White House. “Putin chose this war, and now he and his country will bear the consequences.”
We have been transparent with the world — we shared declassified intelligence about Russia’s plans and cyber attacks and false pretexts — so that there can be no confusion or cover up.
— President Biden (@POTUS) February 24, 2022
Putin is the aggressor. Putin chose this war. pic.twitter.com/xFM5a6T9hG
Biden’s remarks came after his meeting with the leaders of the Group of Seven nations hours after Russia invaded Ukraine.
“This is going to impose severe cost on the Russian economy, both immediately and over time,” Biden told reporters at the White House. “We have purposefully designed these sanctions to maximize long-term impact on Russia and to minimize the impact on the United States and our allies.”
The new sanctions target Russian banks, oligarchs, and high-tech sectors. Biden said that over time the sanctions would “squeeze Russian assets” and impair its “economic growth for years to come. It will be a major hit to their long-term ambitions.”
“These are people who personally gain from the Kremlin policies and they should share in the pain,” Biden said.
Biden announced an initial round of sanctions related to the invasion on Wednesday.
Biden acknowledged that American motorists would be pinched with higher gasoline prices because of surging world oil prices brought on by Russia’s war on Ukraine. But, Biden said, “this aggression cannot go unanswered. America stands up for freedom. This is who we are.”
U.S. troops will not join the fight in Ukraine, Biden reiterated, but he committed the U.S. military to fight alongside NATO allies if Putin advances his attacks past Ukraine and invades any of the 30 NATO countries. The Pentagon announced it was deploying 7,000 more U.S. troops to Germany to bolster NATO’s force in Europe.
