President Joe Biden on Thursday announced a new round of sanctions against Russia after the invasion of Ukraine, accusing that Russian leader Vladimir Putin had chosen this war and that his country will bear the consequences of his action.
The sanctions target oligarchs of Russian banks and high-tech sectors. Biden said the United States and its allies will block assets of four major Russian banks, impose export controls and sanction oligarchs.
The penalties are consistent with the White House’s insistence that it wants to hit Russia’s financial system and Putin’s inner circle, while also imposing export controls that would aim to starve Russian industries and military of Americans. semiconductors and other high-tech products.
Biden held off for the time being by imposing some of the toughest sanctions, including removing Russia from the SWIFT payment system that allows the transfer of money from bank to bank around the world or Russia’s energy sector.
Biden announced the sanctions when the Ukrainian government reported increasing casualties as Russian troops attack from the east, north and south.