The world is moving to impose war crime sanctions on Russia after the emergence of disturbing images from Bucha, Ukraine.
According to President Biden, new sanctions will have a lasting impact on the Russian economy.
Putin Facing Huge Strain
Apart from the United States, the European Union is also aiming to choke the Russian economy, citing the reasons for “war crimes” in Ukraine.
This time, many countries are singling out Russian President Vladimir Putin and his family. Thus, two adult daughters of the Russian president would be impacted heavily by these sanctions.
Apart from Putin’s daughters, America is also targeting the Russian Prime Minister, the family of the foreign minister, as well as the members of the Russian Security Council.
After the penalties, the subject individuals will cease to hold any assets in the United States, and they will become ineligible to use the US financial system.
According to Biden, Russia already lost this war when it decided to retreat from the Ukrainian capital; however, the president cautioned the fight was still going on.
Don't let Russia's rhetoric determine our thinking. Stay calm. Focus on the facts. Ignore the provocations.
🔍Investigate war crimes
🔫Send weapons to Ukraine
Standing up to evil isn't free; but failing to do so will be far costlier.
— Daniel Korski (@DanielKorski) April 4, 2022
Biden asserted under the new wave of sanctions, America is looking forward to blocking Russia’s growth for years to come.
Although American sanctions did not deter Putin, as acknowledged by Biden, they are still blocking Russia’s ability to launch an all-out assault against Ukraine.
Besides that, the US blocked the two largest banks in Russia, alongside banning Americans from investing capital in Russia.
European Countries Also Blocking Putin’s Path
Similarly, the UK also banned any sort of investment in Russia coupled with sanctioning major banks in the country. Furthermore, the European country also decided to end its dependency on Russian oil and coal imports this year.
According to British Foreign secretary Liz Truss, Putin can never be allowed to wash his hands with the blood of innocent Ukrainians who have been killed under his command.
Almost eight percent of UK oil supplies had been filled with Russian oil, which the country has already announced to phase out.
Not only this, but Britain is also reducing its dependence on Russian coal and natural gas supply “as soon as possible.”
⚡️ Macron responds to massacre in Bucha, urges ban on Russian coal, oil.
French President says he supports further sanctions against Moscow after Russia killed hundreds of Ukrainian civilians in Bucha, near Kyiv.
“There are very clear indications of war crimes,” he added.
— The Kyiv Independent (@KyivIndependent) April 4, 2022
As per the EU foreign affairs chief Josep Borrell, Russia’s economy is standing on energy exports; the rising inflation of oil and gas is helping Russia make big money, amid all the prevailing crises.
Borrell noted the EU is giving Russians one billion euros daily for energy products. So since the start of the war, Russia benefited with almost 35 billion euros, compared to only one billion euros of aid the world gave to Ukraine.
All of these decisions were taken after the world saw the horrors in Bucha, which suggested that Russia committed war crimes and a massacre near the capital city of Kyiv.
Meanwhile, 93 countries voted out Russia from the human rights council of the United Nations in a major setback to Putin since the start of the Ukraine war.