Biden Outlines Russia Sanctions

President Biden has delivered an address outlining US sanctions on Russia. The address can be watched here.

• Biden: 'This is a premeditated attack. Putin has been planning this for months as we have said all along.'
• 'Putin has rejected all good faith efforts at diplomacy.' 'We saw staged political theater in Moscow with outlandish accusations and the flagrant violation of international law'.
• 'Putin declared his war at the same time that the UN was attempting to uphold Ukraine's sovereignty PUTIN IS THE AGGRESSOR'
• 'We are imposing additional strong sanctions with a severe cost on Russian economy designed to maximise long term affect on Russia and minimise affect on West.'
• 'The US is not doing this alone. we are working with a coalition of partners to amplify the joint impact of the response.'
• ' We will limit Russian ability to do business in dollars, pounds, euro, and yen.'
• 'Impose major restriction on high tech'.
• Already seen the effect of the ruble and Russian govt borrowing rate spiked today.
• We will sanctions banks that hold USD$1 trillion.
• cut off the biggest Russian bank and also blocking 4 more including VTB (which holds USD$250 billion)
• 'We are also taking steps to fortify NATO in Europe. Strengthen all aspects of NATO. OUR FORCES WILL NOT BE ENGAGED IN CONFLICT IN UKRAINE US forces will be in Europe to support allies.'
• More oil to be released from strategic reserve.