Biden promised Russia to impose “crushing” sanctions

US President Joe Biden, following the results of the G7 meeting, said that the allies are ready to introduce a package of “crushing sanctions” against the Russian Federation. He announced this on his Twitter.

Biden wrote that he held talks with members of the G7 this morning to discuss with them Russian President Vladimir Putin’s “unjustified attack” on Ukraine. G-7 colleagues agreed to impose a “crushing package” of sanctions and other economic measures to hold Russia accountable, he said. The head of the United States also wrote that he supports the citizens of Ukraine.

According to Biden, the US is freezing US assets of four Russian banks, including VTB, for $1 trillion. Also under the new restrictions were representatives of the Russian elite and members of their families.

The United States and allies are ready to limit imports of Russian technology products by 50%, the American leader added. US sanctions will affect the bonds of Russian state-owned companies. The US and partners will also impose restrictions on Russia’s ability to do business in dollars, euros and yen.

It is planned that the restrictions will also affect the Russian space program.

At the same time, Biden said that Western countries do not yet plan to disconnect Russia from the SWIFT international payment system.

Earlier, he phoned Ukrainian President Volodymyr Zelensky to inform him about the meeting of the G7 leaders.

It is noted that Zelensky in this conversation asked Washington to call on the heads of leading states to clearly oppose Russia’s actions and support the people of Ukraine. According to Biden, the United States is already taking steps to ensure that the entire world community condemns what Russia has done.

In turn, the European Union announced that it would promptly adopt new tough sanctions against Russia. Meanwhile, the British Prime Minister also called Zelensky to support the people of Ukraine.