All Russian assets in US frozen: Biden slaps additional sanctions on Russia to 'maximise damage'
India Today
US President Joe Biden announced a new round of sanctions targeting Russia after its invasion of Ukraine, charging that Russian leader Vladimir Putin “chose this war".
US President Joe Biden met the G7 allies on Thursday amid the ongoing Ukraine-Russia crisis and agreed to move forward on "devastating" packages of sanctions and other economic measures to hold Russia to account.
Russia launched a wide-ranging attack on Ukraine on Thursday, hitting cities and bases with airstrikes.
In his address at midnight on Friday, US President Joe Biden came down heavily on Russia and announced that "all Russian assets in America will be frozen."
READ | Putin says 'no other way' to defend Russia other than by invading Ukraine
The sanctions target Russian banks, oligarchs, and high-tech 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 House's insistence that it would look to hit Russia's financial system and Putin's inner circle, while also imposing export controls that would aim to starve Russia's industries and military of US semiconductors and other high-tech products.
Biden said the sanctions were designed to have a long-term impact on Russia and to minimize the impact on the United States and its allies. And he said Washington was prepared to do more.
