Biden announces new sanctions to ‘hold Russia accountable’ for attacking Ukraine

24 February 2022, 09:24 PM

U.S. President Joe Biden in a video address on Feb. 24 announced new sanctions against Russia in response to its full-scale invasion on Ukraine.

"Putin has chosen this war and his country will be held accountable,” Biden said.

"Today I am imposing additional tough sanctions and new restrictions."

Earlier today, Biden said that the leaders of the G7 countries had agreed to impose "crushing" sanctions on Russia. They also agreed to "limit Russia's ability to do business in dollars, euros, pounds and yen, and to be part of the world economy.”

Video of day

Earlier, UK Prime Minister Boris Johnson also announced new sanctions against Russia. He said that all major Russian banks face a complete freeze on their assets in the UK. The sanctions include a complete and immediate freeze on the assets of VTB, one of Russia's largest banks. The amount of money that Russians can keep in UK banks will be limited. Britain also plans to freeze the assets of about 100 people and companies. Russian airline Aeroflot will be banned from flying to Britain.

The European Union also plans today to approve sanctions against Russia that will severely restrict its access to capital markets and key technologies.

When journalists asked why the United States and its allies have not disconnected Russia from the SWIFT bank payment system, Biden avoided the question, saying that the sanctions imposed today may have a harsher impact on Russia in future than a disconnection from SWIFT.

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