Biden announces ‘Putin will suffer the consequences! Global economic blow to Russia

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Biden announces 'Putin will suffer the consequences! Global economic blow to Russia

As the world watches Russia’s invasion of Ukraine live, one wonders what the superpowers will do to end this crisis… In this context, US President Joe Biden announced at the White House that Russia’s trading in dollars, euros and yen would be restricted. Biden said he would suffer the consequences of Putin’s decision, adding that the United States and NATO would not be ready for Article 5. He said he would stick to his commitments under the clause. The US leader said new steps will be on the table tomorrow at the NATO Leaders’ Summit, which will be attended by President Erdogan.

Biden announces 'Putin will suffer the consequences! Global economic blow to Russia

Here are some of Biden’s expected sanctions statements on Russia:

“175,000 troops were stationed at the Ukrainian border. There are injuries at the hospital. An attitude has been put forward that rejects all good intentions. We have been warning for weeks that the dialogue will take place and that this unnecessary conflict will not take place. There is a large offensive against Ukraine, which began in the territory of the separatists supported by Russia, as well as a cyberattack.

“PUTIN CHOSE WAR”

These were laid out in baseless approaches as if Ukraine was preparing an attack on Russia. The international community should be in favour of territorial integrity in the context of this attack on ukraine’s territorial integrity. Russia’s plans continue with misleading and cyberattacks. The Putin administration is aggressive, it chose war, now it will face the consequences. Sanctions against Russia will have serious consequences for the Russian economy. We put forward these sanctions to ensure its long-term impact. We put these things in a way that the United States will be affected for the least amount of time and Russia will be affected the longest. The G7 countries are in a very joint position on this issue.

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“RUSSIA’S LOSS IS $1 TRILLION”

We will prevent Russia from trading in dollars, euros, pounds and yen. Within the framework of our own currencies, we will put forward basic sanctions in the common decision in terms of curbing Russia’s competence, in relation to high-tech situations. The stock market in Russia has fallen like never before today. A loss of $1 trillion was in the context of the Russian banks in question and a self-inflicted decline. Today, we have imposed sanctions on four other banks, imposing asset blockades and placing this limitation on Russian banks with assets of $270 billion. Oligarchs who have corrupt assets will be affected. We are now expanding these limitations further. It will face blockades of up to $1.4 trillion.

“NATO’S PREPARATIONS ARE COMPLETE”

Within our activities, half of Russia’s technology exports will be directly affected. All sectors of their countries, including the space program, will be affected. Economically, their strategy will be affected long-term. There will be a meeting in NATO tomorrow, allied leaders will meet. What new steps can be taken will be discussed. There is only support for Ukraine this year, and we will have forces in Ukraine, but nato’s entire presence on its eastern border will demonstrate defense. The United States and nato alliance are bound by their commitments under Article 5. The attack on one NATO member was carried out on all others. There’s a threat from the north in the Black Sea. NATO is committed to protecting allies and in terms of protecting all allies in the most difficult way THAT NATO has ever provided. Protecting all assets for US energy companies will continue to stand by them economically. We closely monitor the energy supply.

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“WE WILL COME OUT OF THIS PROCESS STRONGER”

We do everything in terms of protecting the American people in our capacity. This aggression cannot be left unanswered, and at this point there are situations where the United States stands by it, freedom is one of them. We are ready for cyberattacks against our companies. I spoke to Mr. Zelenski yesterday. The United States, along with its allies in Europe, will continue to support them in defending their country. In the first period of this process, Russian propaganda was involved. The Ukrainian people know 30 years of independence, they will not allow a return from here. This is a significant historical threat facing Europe, a danger to global peace. The Kremlin and those who are with him should know that. In this process, Putin should know that the border will not change by using force in this way, and that there will be a consequence of choosing aggression. We will come out of this process stronger, Russia will come out weaker. Repressive tyrants like Putin will see that with any violence, freedoms cannot be challenged in this way. Freedom will prevail over autocracy.

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Q&A

The sanctions include the banks we proposed today and will have a serious impact. SWIFT sanctions are an option, but there’s no attitude taken. In this way, we must state that sanctions can take a long time. The impact of sanctions may not be sudden. But at this point, the power of stronger sanctions will also emerge. There is no doubt that a country with significant nuclear power is attacking another country and the markets are of course responding negatively. We will continue this process on sanctions, even if it takes a long time. Putin wants to create the former Soviet Union. It’s the opposite of where the world is.

I didn’t say sanctions could stop him, it’s one thing to say the sanctions will have an impact. His country will be weakened and severely affected. Putin’s personal exposure to sanctions is also on the table. Sanctions exceed removal from swift system. Of all these initiatives, we see that two-thirds of the world joins us, I must say that this will work very hard. There is, of course, a serious breakdown in US-Russian relations. Russia’s position is opposed by a very large part of the world.”

Biden also said he had no intention of meeting With Putin.

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