President Joe Biden on Thursday announced a new round of sanctions targeting Russia after its invasion of Ukraine charging that Russian leader Vladimir Putin chose this war and that his country will bear the consequences of his action.
The sanctions target Russian banks oligarchs and hightech sectors Biden said The United States and its allies will block assets of four large Russian banks impose export controls and sanction oligarchs.
The penalties fall in line with the White Houses insistence that it would look to hit Russias financial system and Putins inner circle while also imposing export controls that would aim to starve Russias industries and military of US semiconductors and other hightech products.
Biden for now held off imposing some of the most severe sanctions including cutting Russia out of the SWIFT payment system which allows for the transfers of money from bank to bank around the globe or Russias energy sector.
Biden announced the sanctions as Ukraines government reported mounting casualties as Russian forces attack from the east north and south.