Biden imposes sanctions on Russia over Ukraine: "Putin chose this war"

USA, on alert for possible Russian cyberattacks 1:27

(CNN Spanish) --

US President Joe Biden delivered a speech on the situation in Ukraine, condemned Russia for launching the military attack on Thursday and announced strong new sanctions and limitations on what can be exported to Russia.

"This is going to impose a severe cost on the Russian economy, both immediately and over time. We have purposely designed these sanctions to maximize long-term impact on Russia and minimize impact on the United States and our allies," he said.

“Putin is the aggressor.

Putin chose this war.

And now he and his country will bear the consequences,” Biden said.

• War Russia - Ukraine: last minute and news of the attack and invasion live

The United States is not doing this alone, he said, adding that all 27 members of the European Union and members of the G7 will participate in these sanctions.

These are the sanctions that Biden announced:

• Limit Russia's ability to do business in dollars, euros, pounds and yen to be part of the global economy.

• Stop the ability to finance and grow the Russian military.

• Impair their ability to compete in the high-tech economy of the 21st century.

• US-sanctioned Russian banks that together have about $1 trillion in assets.

• He added, "We are also blocking four other major banks. That means all the assets they have in the United States will be frozen."

• Why did Russia finally invade Ukraine?

Biden vows to limit rising US gasoline prices

President Biden said that as the United States responds to the Russian attack on Ukraine, it will also try to "limit the pain felt by the American people at the gas pump."

"As we respond, my administration is using ... every tool at [our] disposal to protect America's families and businesses from rising prices at gas stations. We are taking active steps to reduce the cost, and America's gas companies oil and gas shouldn't, shouldn't, exploit this moment to raise their respect prices to increase profits," he said.

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Biden said officials are monitoring power supplies for outages.

"We have been coordinating with major oil producing and consuming countries towards our common interest of securing the world's energy supply. We are actively working with countries around the world to raise the collective release of strategic oil reserves for major consuming countries. of energy," he said.

"And the United States will release additional barrels of oil when conditions warrant."

Biden said he is aware that gas prices have already been rising in the United States.

"I know this is hard and that Americans are already hurting. I will do everything in my power to limit the pain felt by the American people at the gas pump. This is critical to me. But this aggression cannot go unheeded." response. If I did, the consequences for America would be much worse. America stands up to thugs. We stand for freedom. This is who we are," he said.

"Putin will be a pariah on the international stage," he added.

"Putin's choice to wage a totally unjustifiable war against Ukraine will leave Russia weaker and the rest of the world stronger."

Biden says Putin wants to 'restore the old Soviet Union'

Biden said that Russian President Vladimir Putin is cut off from the rest of the world and wants to revive the former Soviet Union.

"He has much bigger ambitions than Ukraine. He wants, in fact, to re-establish the former Soviet Union. That's what it's all about. And I think his ambitions are completely contrary to where the rest of the world has come."

Biden was adamant that the sanctions will have an effect on Russian aggression after the country attacked Ukraine.

“You will weaken your country.

He will have to make a very, very difficult decision to continue to move towards being a second-rate power or, indeed, to respond," Biden said.

"If we don't act against him now with these major sanctions, he's going to get stronger," Biden said later.

President Biden said he has "no plans to talk" with Russian President Vladimir Putin after he announced a military attack on Ukraine.

With information from Kevin Liptakn

Vladimir Putin