President Joe Biden gave an address on the situation in Ukraine Thursday afternoon, condemning Russia for invading Ukraine and announcing new sanctions and limitations on what goods can be exported to Russia. “This is going to impose severe cost on the Russian economy, both immediately and over time. We have purposefully designed these sanctions to maximize a long-term impact on Russia and to minimize the impact on the United States and our allies,” Biden said. Biden added that the 27 EU members and G7 members will participate in these sanctions. The sanctions Biden announced include: limiting Russia’s ability to do business across the globe; stop its ability to finance and grow the Russian military; hurt their ability to compete on the global stage; and freezing some $1 trillion in assets held by Russian banks. “It’s going to take time and we have to show resolve, so he knows what is coming. So the people of Russia know what he’s brought on them. That’s what this is all about. This is going to take time,” Biden said. Biden added that he has “no plans to talk” with Russian President Vladimir Putin and said diplomatic relations between the US and Russia are now “completely ruptured.” “Putin will be a pariah on the international stage,” Biden said. “Putin’s choice to make a totally unjustifiable war on Ukraine will have left Russia weaker and the rest of the world stronger.” “As we respond, my administration is using … every tool at [our] disposal to protect American families and businesses from rising prices at the gas pump. We’re taking active steps to bring down the cost, and American oil and gas companies should not — should not — exploit this moment to hike their respect prices to raise profits,” he said. Reporters asked the president why he doesn’t sanction Vladimir Putin himself over his aggression, but Biden declined to reply. (YWN World Headquarters – NYC)

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