“Yes, our intention is to have a deterrent effect,” Psaki said during the briefing.

She also noted that the US retains scope for additional sanctions against Russia.

“Sanctions can take various forms, export controls are one of them.

Many other sanctions remain at our disposal.

The SWIFT system was not included in the first wave of sanctions, but it is significant,” she explained.

Earlier, United States President Joe Biden announced the introduction of blocking restrictions against two large Russian financial corporations.

He also announced the imposition of sanctions on Russia's sovereign debt.

At the same time, Biden acknowledged the damage to the US economy due to sanctions against Russia.