![]() ![]() This includes V.T.B., the second-largest bank in Russia, which has $250 billion in assets.Īs promised, we’re also adding names to the list of Russian elites and their family members that are sanctioning - that we’re sanctioning as well.Īs I said on Tuesday, these are people who personally gain from the Kremlin’s policies and they should share in the pain. That means every asset they have in America will be frozen. financial system.Īnd today, we’re also blocking four more major banks. We’ve cut off Russia’s largest bank - a bank that holds more than one third of Russia’s banking assets by itself - cut it off from the U.S. In today’s actions, we have now sanctioned Russian banks that together hold around $1 trillion in assets. The Russian government’s borrowing rate spiked by over 15 percent. And the Russian stock market plunged today. We’ve already seen the impact of our actions on Russia’s currency, the Ruble, which early today hit its weakest level ever - ever in history. We’re going to impose major - and we’re going to impair their ability to compete in a high-tech 21st century economy. We are going to stunt the ability to finance and grow Rus- the Russian military. We will limit Russia’s ability to do business in Dollars, Euros, Pounds, and Yen to be part of the global economy. I just spoke with the G7 leaders this morning, and we are in full and total agreement. Twenty-seven members of the European Union, including France, Germany, Italy - as well as the United Kingdom, Canada, Japan, Australia, New Zealand, and many others - to amplify the joint impact of our response. For months, we’ve been building a coalition of partners representing well more than half of the global economy. We have purposefully designed these sanctions to maximize the long-term impact on Russia and to minimize the impact on the United States and our Allies.Īnd I want to be clear: The United States is not doing this alone. This is going to impose severe costs on the Russian economy, both immediately and over time. Today, I’m authorizing additional strong sanctions and new limitations on what can be exported to Russia. And now he and his country will bear the consequences. We’ve shared declassified evidence about Russia’s plans and cyberattacks and false pretexts so that there can be no confusion or cover-up about what Putin was doing. Then came in the air raids, followed by tanks and troops rolling in. Within moments - moments, missile strikes began to fall on historic cities across Ukraine. We saw a flagrant violation of international law in attempting to unilaterally create two new so-called republics on sovereign Ukrainian territory.Īnd at the very moment that the United Nations Security Council was meeting to stand up for Ukraine’s sovereignty to stave off invasion, Putin declared his war. We saw a staged political theater in Moscow - outlandish and baseless claims that Ukraine was - Ukraine was about to invade and launch a war against Russia, that Ukraine was prepared to use chemical weapons, that Ukraine committed a genocide - without any evidence. Rus- the Russian government has perpetrated cyberattacks against Ukraine. In the past week, we’ve seen shelling increase in the Donbas, the region in eastern Ukraine controlled by Russian-backed separatists. And now it’s unfolding largely as we predicted. He rejected every good-faith effort the United States and our Allies and partners made to address our mutual security concerns through dialogue to avoid needless conflict and avert human suffering.įor weeks - for weeks, we have been warning that this would happen. He moved blood supplies into position and built a field hospital, which tells you all you need to know about his intentions all along. He moved more than 175,000 troops, military equipment into positions along the Ukrainian border. ![]() Vladimir Putin has been planning this for months, as I’ve been - as we’ve been saying all along. The Russian military has begun a brutal assault on the people of Ukraine without provocation, without justification, without necessity. THE PRESIDENT: Sorry to keep you waiting.
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