(The Hill) – President Biden on Thursday said the U.S. would sanction major Russian banks and impose export controls on Russia to curtail Russian high-tech imports, as part of a coordinated effort within allies to penalize the Kremlin for its military attack against Ukraine.
In remarks from the East Room of the White House, Biden said the sanctions would target Russian banks holding a combined $1 trillion in assets, including VTB Bank. He said the U.S. would also impose sanctions on additional Russian elites with links to the Kremlin.
Biden condemned Russian President Vladimir Putin for ordering the attack against Ukraine and said that his actions would cost Russia “dearly.”
“Putin is the aggressor. Putin chose this war and now he and his country will bear the consequences,” Biden said.
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