LIVE: President Biden is discussing latest developments in Ukraine and additional sanctions on Russia. abc15
In an address from the White House on Thursday, President Joe Biden laid out a series of economic sanctions — backed by dozens of other countries — in response to Russia's invasion of Ukraine.The sanctions levied Thursday include blocking assets of large Russian banks, imposing export controls and sanctioning Russian oligarchs who have funds outside of the country.He later added that he expected the sanctions would cut off"half of Russia's high-tech imports.
Biden also said Thursday that the U.S. would be deploying additional troops to Germany in the days ahead to reassure NATO allies. The president clarified that the troops would not be sent into battle in Ukraine.However, he warned that U.S. troops would enter the fight if Russia attacked NATO allies. Biden also addressed concerns regarding the price of gasoline, which is expected to rise given that Russia and Ukraine are major oil producers. Prices soared on Thursday, with the cost of crude oil exceeding $100 a barrel.
Earlier this week, Biden announced he was levying several economic sanctions on Russia as it moved troops into separatist-held Ukrainian territory. Those sanctions impacted financial activity connected to Russia's sovereign debt, as well as sanctions on Russian elites and their family members.
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