'This is going to impose severe cost on the Russian economy, both immediately and over time,' said U.S. President Joe Biden.
that Washington is imposing additional sanctions to limit exports to Russia, freeze assets held by powerful banks, and restrict the economic activities of oligarchs in the country.
"Today I am authorizing additional strong sanctions and new limitations on what can be exported to Russia," the president continued."This is going to impose severe cost on the Russian economy, both immediately and over time.""We have purposefully designed these sanctions to maximize the long-term impact on Russia and to minimize the impact on the United States and our allies," added Biden.
The U.S. is also expanding its list of Russian elites and their family members subject to sanctions, though Putin is not yet being targeted directly.
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