Biden announces economic sanctions that will isolate Russia from the Western financial system
US President Joe Biden, in a speech he just made on the Ukraine crisis, announced the first set of sanctions against Russia.
President Biden said the United States is imposing the first set of sanctions on Russia, targeting two financial institutions and Moscow's access to Western funding sources as well as "Russian elites."
The US president said that sanctions would isolate Russia from the Western financial system and target "Russian elites" as well as financial institutions.
"We will impose wide-ranging sanctions on Russian sovereign debt," Biden said. "This means that we are cutting off the Russian government from Western funding."
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