Skip to main content

The US has sanctioned Russian banks with a combined asset value of $1 trillion.

In the aftermath of the invasion of Ukraine, President Biden imposed further penalties on Russian banks on Thursday, but he did not follow through on his warning to sanction Vladimir Putin directly or cut Russia out from the international banking system totally.

Biden told reporters at the White House, "We've now sanctioned Russian banks that collectively control around $1 trillion in assets." The US had already shut Russia's largest bank off from the US financial system, according to Biden.

"We're also blocking four more large banks today." That means all of their assets in America will be blocked," Biden explained.

VTB, Russia's second-largest bank with $250 billion in assets, is one of the newly sanctioned banks.

The United States, on the other hand, did not block Russian access to the SWIFT system (Society for Worldwide Interbank Financial Telecommunication). The SWIFT system, which is run by the Belgian National Bank, is used for a substantial portion of international business transactions.

"The sanctions we've suggested on all of their banks are just as serious, if not more serious, than SWIFT, number one." When asked why SWIFT sanctions were not included in the revised package, Biden responded, "It's always an option, but right now, that's not the position that the rest of Europe intends to take."

In response to the invasion, Ukraine has demanded that Russia be cut off from SWIFT.

"We demand that Russia be disconnected from SWIFT, that a no-fly zone be established over Ukraine, and that additional effective measures be taken to stop the aggressor," Ukrainian President Volodymyr Zelensky stated in a Twitter post.

When ABC News reporter Celia Vega pointed out that "penalties were clearly insufficient to discourage" Putin from launching an invasion, Biden said that economic sanctions were never designed to do so.

"No one anticipated that the sanctions would prevent anything from happening. "This will take some time," Biden remarked. "It's not going to happen; he'll say, 'Oh, my God.'" Sanctions are on their way. "I'm going to take a step back."

The remarks contrasted with Vice President Kamala Harris's Sunday statements, in which she stated that sanctions were imposed to stop Russia from invading Ukraine.

"The goal of the sanctions has always been and will continue to be deterrence," Harris said in Munich to reporters. "These are among the most severe sanctions we've ever issued, if not the most severe."

On Tuesday, White House Deputy National Security Adviser Daleep Singh made similar remarks.

"Sanctions are not a means to an end," Singh explained. "They're designed to deter and prevent a large-scale invasion of Ukraine, which would include the seizing of major cities like Kyiv."

From the east, the south, and the north, Russian armies have invaded Ukraine. The Chernobyl nuclear power facility has been taken over by Russia.

Labels:

Comments

Post a Comment

Popular posts from this blog

Apple CEO Tim Cook says the company will support local humanitarian efforts in Ukraine.

Tim Cook tweeted that Apple is doing everything possible to assist team members in Ukraine and will also support local humanitarian efforts. A day after Russia invaded Ukraine, Apple CEO Tim Cook expressed concern about the ongoing crisis and called for peace in the country on February 25. He stated that the US tech behemoth is doing everything possible to assist team members in Ukraine, as well as supporting local humanitarian efforts. Cook is one of the first tech titans to publicly declare his support for Ukraine. According to Apple Insider, Apple does not have a retail presence in Ukraine, but the company does collaborate with authorised resellers in the country. Furthermore, according to the Kyiv Post, Apple registered an LLC in Kyiv, Ukraine's capital, last year. Apple has a corporate office in Moscow as well, which opened earlier this month. According to Apple Insider, Apple does not have a retail presence in Ukraine, but the company does collaborate with authorised reseller...
Post a Comment
Read more

Putin is suffering from 'roid fury' as a result of his cancer treatment with steroids.

His 'increasingly unstable' behaviour, bloated look, and ludicrous social alienation for guests, according to Western spies, is the outcome of medical therapy. According to intelligence sources, Vladimir Putin may have cancer, Parkinson's illness, or dementia. The 69-year-old despot's 'bloated face and neck' might be the result of long-term steroid usage. Putin's health has been questioned in recent months due to his looks, which has been described as "ashen and bloated" with a pale complexion in his most recent public appearances. According to intelligence sources, Vladimir Putin is suffering from dementia, Parkinson's disease, or 'roid rage' as a result of steroid treatment for cancer. Senior figures in the Five Eyes intelligence alliance – Australia, Canada, New Zealand, the United Kingdom, and the United States – believe there is a physiological explanation for Russian President Vladimir Putin's widely despised decision to invad...
Post a Comment
Read more

Before playing Black Widow, I had never been inside a gym...Scarlett Johansson

Scarlett Johansson, who plays Black Widow in Iron Man 2, talks about the most difficult obstacle she faced while filming the sequel. Johansson first appeared in the Marvel Cinematic Universe as Black Widow in Iron Man 2, which followed Tony Stark as he battled both his deteriorating health and a vengeful madman. Since her debut in Iron Man 2, Johansson has appeared in nine MCU films, including the world-record-breaking features The Avengers and Avengers: Endgame, as well as her own standalone film, Black Widow. In the wider MCU storey, both Johansson and Black Widow have gone through a lot, including an implied romance with the Hulk and countless brutal fighting sequences. In a recent interview with Vanity Fair, Johansson stated that the most difficult aspect of filming Iron Man 2 was having to prepare for heavy stunt work for the first time. Scarlett was just in her early twenties when she was cast as Black Widow, and she claims she had "never stepped foot in a gym" before b...
Post a Comment
Read more