WASHINGTON – President Joe Biden on Thursday announced a new round of sanctions against Russia after its invasion of Ukraine, accusing Russian leader Vladimir Putin of “choosing this war” and that his country would suffer the consequences of his actions.
The sanctions target Russian banks, oligarchs and the high-tech sector, Biden said. The United States and its allies will block the assets of four major Russian banks, impose export controls and impose sanctions on oligarchs
The fines meet the White House’s insistence that it strike at Russia’s financial system and Putin’s inner circle, and impose export controls aimed at destroying Russian industry and an army of semiconductors and other high-tech products.
At the moment, Biden has refused to impose some of the toughest sanctions, including Russia’s waiver of the SWIFT payment system, which allows money to be transferred from bank to bank around the world or to Russia’s energy sector.
Biden announced sanctions as the Ukrainian government reported an increase in casualties from attacks by Russian troops from the east, north and south.
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