download - 2022-04-10T112528

"The fight between Russian and Ukraine is 'far from over' but the US will stand with the Ukrainian" - President Biden

President Joe Biden said Wednesday the fight between Russian and Ukraine is "far from over" but the United States will stand with the Ukrainian people in their "fight for freedom." 

The United States and its Western allies said Wednesday they have imposed “new severe and immediate economic sanctions” against Russia, banning American investment there and targeting assets held by President Vladimir Putin’s adult children. 

“Together with our allies and our partners, we're going to keep raising economic costs, to ratchet up the pain for Putin and further increase Russia's economic isolation,” President Joe Biden said on Wednesday during remarks at a North America’s Building Trades Unions event. 

The White House said it was imposing the new measures as retribution for atrocities against Ukrainian civilians allegedly committed by Russian troops, including those discovered in recent days in Bucha, a suburb of the capital city Kyiv. The Russian military withdrew from the region while heightening its attacks on cities in southern and eastern Ukraine. Russia has denied killing civilians in Bucha. 

The U.S. said it will “impose full blocking sanctions” on Sberbank, Russia’s largest financial institution, and the country’s largest private bank, Alfa Bank. 

The White House said it is also sanctioning “critical, major Russian state-owned enterprises,” Putin’s adult children, Foreign Minister Sergey Lavrov’s wife and daughter, and members of Russia’s Security Council. 

The U.S. said it will block Russia from making debt payments with money subject to U.S. jurisdiction and follows action earlier this week to cut off Russia’s frozen funds in the United States to make debt payments. 

In his remarks, Biden said that the steps already taken to punish Russia are predicted to shrink the country’s gross domestic product by double digits this year alone and wipe out the last 15 years of Russia’s economic gains. 

“Because we’ve cut Russia off from importing technologies, like semiconductors and encryption, security and critical components of quantum technology that they need to complete in the 21st century, we’re going to stifle Russia’s ability in its economy to grow for years to come,” he added. 

Meanwhile, U.S. Attorney General Merrick Garland said the Justice Department is assisting Ukrainian and European partners as well as the State Department to collect evidence of the alleged war crimes in Ukraine. 

Federal criminal prosecutors met with prosecutors from Eurojust and Europol on Monday "to work out a plan for gathering evidence" and on Tuesday the top Justice Department prosecutor in Paris met with French prosecutors, Garland said at a news conference. He also announced the indictment of a Russian oligarch. 

 


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