Home » US sanctions on Russia affect defence, tech, finance | Russia-Ukraine war News
The White House unveiled measures to isolate Russia from the global financial, tech and trade system.
The United States said that it is imposing ‘severe’ economic sanctions on Russia in response to President Vladimir Putin’s attack on Ukraine, aimed at crippling the Russian economy, its financial institutions and its access to technology.
US President Joe Biden at the White House Thursday said: ” Putin chose this war. And now he and his country will bear the consequences.”
Russia’s stock market tumbled to its lowest level in four and a half years on Thursday, and its currency, the rouble, reached a record low versus the greenback.
Now, the even stricter measures aim to squeeze Russia’s economy, stifle its growth, increase borrowing costs, raise inflation and intensify capital outflows.
The Biden administration said in a statement Thursday afternoon that sanctions target all 10 of Russia’s largest financial institutions and impose export control measures that will…
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