Jordan Moreau President Joe Biden announced that the U.S. would deliver harsh sanctions against Russia in the wake of Russian President Vladimir Putin’s invasion of Ukraine just hours earlier.“Today I’m authorizing additional strong sanctions and new limitations on what can be exported to Russia,” Biden in a speech Thursday afternoon.. “This is going to impose a severe cost on the Russian economy, both immediately and over time.
We have purposely designed these sanctions to maximize the long-term impact on Russia and minimize the impact on the United States and our allies.”Biden added that a coalition of countries representing more than half of the global economy, including 27 members of the European Union, are amplifying the international response against Russia. “We will limit Russia’s ability to do business in dollars, euros, pounds and yen.
We are going to stunt the ability to finance and grow the Russian military. We’re going to impair their ability to compete in a high-tech, 21st-century economy.
We’ve already seen the impact of Russia’s currency in the ruble, which early today hit its weakest level ever in history.”Biden said that NATO members will meet at a summit on Friday to map out the next steps of the global alliance’s stance against Russia.
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