Friday, 25 February 2022 (YJC)_ Claiming that financial sanctions are only a small part of the response to Russia's aggression, the White House deputy national security adviser said the sanctions also affect the standard of living of Russian citizens.
The United States is imposing sanctions on Russian financial institutions and bank executives, Dalip Singh, the White House's deputy national security adviser on international economics, said Friday morning.
Singh told a news conference at the White House:
We stand with the people of Ukraine who are suffering from Russia's unwarranted attack. Putin did not accept diplomacy and chose war, and this is a clear violation of international law and the principles of world security.
He continued:
Putin left us no choice, and we want to turn what he did into a failure. Today we boycotted two major Russian financial institutions. We will boycott the managers of Russian banks.
Commenting on Washington's actions against Moscow, the US official said:
We will freeze the balances of three other banks with total assets of $ 70 billion. Financial sanctions are only a small part of our response to the Russian invasion.
"Sanctions against Russia affect ordinary people as well," Singh said.
Sanctions affect the standard of living of Russian citizens. Sanctions against Russia are the toughest ever imposed by the United States.
According to American media, he continued:
The ruble lost more value and Russian stocks fell. We will prevent Russia from gaining access to technology in the maritime and air sectors. The effects of US sanctions on Russia will become apparent over time.
The White House Deputy National Security Adviser claimed:
The cost of borrowing from the Russian government increased by 10%. All options are on the table, including Russia's secession from Swift's global system. Sanctions mean Russia and any country that helps in the aggression.
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