Biden After New Sanctions on Russia: Putin in “Tough Spot”
On Friday, U.S. President Joe Biden announced that Russian President Vladimir Putin is in a “tough spot” following coordinated new sanctions by Washington and London against Russia’s energy sector, in response to the ongoing war in Ukraine.
Speaking to reporters at the White House, Biden stated, “Putin is in a tough spot right now, and I really think it’s important that he doesn’t have any breathing room to continue doing the really horrific things that he continues to do.”
The White House disclosed that Biden had spoken with Ukrainian President Volodymyr Zelensky on Friday, emphasizing the importance of continued support for Kyiv in its war against Russia. In a statement, the White House added, “It is now clear that the war President (Vladimir) Putin started against Ukraine has been a disaster for Russia. Thanks to the bravery, determination of the Ukrainian people, and with support from the United States, Russia has not achieved any of its strategic objectives in Ukraine.”
Both the United States and the United Kingdom imposed further sanctions on Friday targeting
Russia’s energy sector to curb funding for Moscow’s war efforts in Ukraine. The U.S. Treasury
Department specified that sanctions were placed on Russian oil exploration and production
giants Gazprom and Surgutneftegas, along with 183 oil tankers used for oil shipping, many of
which are part of the so-called ‘shadow fleet’ operated by non-Western companies.
These sanctions also target networks involved in oil trading. Many of these tankers have been
used to ship oil to India and China, as the price cap imposed by the G7 in 2022 redirected a
significant portion of Russian oil trade from Europe to Asia.
Additionally, the U.S. Treasury Department revoked an exemption that had previously allowed
energy payment intermediaries to bypass sanctions on Russian banks.
On its part
The UK imposed its own sanctions targeting Gazprom and Surgutneftegas. According to a press
release by the British Foreign Office, these companies produce over one million barrels of oil per
day, amounting to an annual value of approximately $23 billion.
This strategic move by the U.S. and UK aims to economically pressure Russia, highlighting the
global implications of the Ukraine conflict and the international community’s response through
stringent economic measures.
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