President Joe Biden on Thursday said he plans to impose sanctions on Russia for what he called an “unprovoked and unjustified” attack on Ukraine.
Biden says sanctions will target Russian elites, the country’s top banks and technology exports. The president did not give specific details on how the sanctions would be carried out.
Among the sanctions are:
· The United States will cut off Russia’s largest banks and largest companies from the western financial markets.
· Limit Russia’s ability to do business in dollars, euros, pounds and yen to be part of the global economy.
· The country will have its technology exports restricted.
· The United States will freeze trillions of dollars in Russian assets, starting today, including funds controlled by Russian oligarchs and their families.
The president held off imposing some of the most severe sanctions, including cutting Russia out of the SWIFT payment system, which allows for the transfers of money from bank to bank around the globe. https://t.co/uyS0dbShc0
— The Associated Press (@AP) February 24, 2022
In addition, Biden said he will send more troops to Eastern European countries in the NATO alliance, but no U.S. troops will engage with Russia in Ukraine. “The United States will defend every inch of NATO territory with the full force of American power,” he said.
Biden also promised to respond to any cyberattack that Russia may launch.
“If Russia pursues cyberattacks against our companies, our critical infrastructure, we are prepared to respond,” Biden said during remarks from the White House. “For months, we’ve been working closely with the private sector to harden their cyber defenses [and to] sharpen our ability to respond [to] the Russian cyberattacks as well.”
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