U.S. and G7 agree on economic sanctions against Russia

The President of the United States announced on Thursday the import of a second salvo and technical product of retaliation, especially for Russian institutions and oligarchs.

The speech of the President of the United States is rarely so long-awaited. Joe Biden addressed the Americans on Thursday, hours after Vladimir Putin began his invasion of Ukraine, announcing the sanctions he had promised.CatastrophicAgainst the Russian economy.

Earlier that day, US presidents and their respondents from Canada, France, Germany, Italy, Japan and the United Kingdom, as well as representatives of the European Union and NATO, blamed in a press release,Serious threat to international order“And they agreed to impose sanctions on Russia.”Catastrophic“I guaranteed Joe Biden on Twitter.

Therefore, Joe Biden defended the weapon of sanctions developed by the United States and the G7 on Thursday after a virtual meeting between the leaders of his state and government in response to the invasion of Ukraine.

He recalled that there was no doubt about sending US troops to Ukraine, which is not a member of NATO, and elaborated on a particularly economic response from the West.Meanwhile, he promised to protect again “Minimum inch of territory” Of the military alliance. The Pentagon also announced that it would send about 7,000 additional soldiers to Germany in the process.

Target Russian institutions and oligarchs

One of the sanctions announced is for Russia’s 10 largest financial institutions, especially Sberbank and VTB Bank, Russia’s two largest banks, which are subject to Western sanctions. This jeopardizes access to international financial markets and trading in the dollar, the queen’s currency of globalization. Sberbank and VTB Bank together$ 750 billion in assets, half of Russia’s banking systemState Department spokesman Edward Price recalled Wednesday.

Meanwhile, Joe Biden has announced that several of Russia’s largest companies (13 in total) are no longer able to raise money in the US financial markets. This sanction had already been imposed on the Russian government itself.

Russia’s oligarchs have also been targeted by measures taken by the West, and the United States has lengthened the list of people sanctioned to put a fortune close to Vladimir Putin into their wallets. world. ‘Foreigner.

Finally, Washington and its allies intend to significantly limit Russia’s imports of technological products at the very moment Russia’s heavy reliance on hydrocarbon exports seeks economic diversification. “More than half” According to the White House, Russia’s technology imports have been thwarted and Joe Biden has promised to complicate Russia’s military development.

Ban access to SWIFT by Russian banks

The United States had already announced the first remedy for economic retaliation on Tuesday and Wednesday in response to Vladimir Putin’s decision to recognize the independence of the separatist territory of eastern Ukraine. Sanctions were actually announced for the company responsible for operating the Nord Stream 2 gas pipeline. That is, we are currently investing $ 11 billion.At the bottom of the sea“To use terms that are important to the US administration, but also to two Russian public banks (VEB’s Vnesheconombank and PSB’s Promsvyazbank), and five oligarchs close to the Russian president. Americans also. It has already decided to block access to the Russian government’s international sovereign debt market.

Ukrainian President Volodymyr Zelensky also demanded massive sanctions on Thursday. Ban Russian banks from using the SWIFT messaging system, an important cog in world finance. This will isolate Russia at the banking level without affecting financial institutions in other countries. However, such a decision (which has already been implemented under the US initiative for Iran) cannot be made solely by Americans.Joe Biden showed that it’s left “option” But this solution was not “Current” Not 1 “position” Shared by Europeans.Was not measured “Not on the table” During 27 discussions on Thursday evening, European diplomats told AFP due to the refusal of several member states, including Italy, Hungary and Cyprus.

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