President Biden Drops a Fat Bomb of Sanctions on Russia
Biden fired a salvo of economic blows at Russia on Thursday, Feb 24, after Moscow decided it was time to play real politics with Ukraine. The sanctions lineup blocks the Red Army’s cash flow across the world’s hard currencies, slaps penalties on banks, and pulls state‑owned firms into the crosshairs.
Why the Rock‑Solid Response?
Biden called Putin “an aggressor with a sinister vision of the world” and accused him of dreaming of a Soviet reboot. Yet he parked the hardball move on the direct freeze of Putin himself—a decision burning cigarettes at the White House due to a mix of diplomatic sparring and domestic pressure points.
All‑Hands on the Finance Front
- Sberbank and VTB—two of Russia’s biggest state‑backed banks—will no longer transact with U.S. institutions.
- Sanctions also target elite families, “the crème de la crème” of Russian wealth.
- Expunging Russia’s access to dollars, euros, pounds, and yen.
The sanctions are designed to trickle down the Russian economy, with long‑term effects while keeping the U.S. and allies relatively unscathed. Biden underlined that Washington is ready to tighten the knot further.
Export Sabotage: The Khrushchev Edition
The White House rolled out export restrictions that cut off Russia from global sales of tech goods—think computers, semiconductors, and aircraft parts. It’s like putting the world’s best sellers on hold.
International Moves and NATO Strategy
NATO is “meeting on Friday” to chart added sanctions, yet the President reiterated the U.S. is not engaging in a conventional war with Russia. There’s a subtle nod to Article 5, but since Ukraine isn’t a NATO member, the glam squad of protection doesn’t apply.
The European Patchwork
Biden saw the “dangerous moment for all of Europe” and has mobilized troops on standby, ready to deploy to Germany if needed. A subtle ask to China to join the Brits in isolating Moscow was left on the grey table—no definitive answer on hand.
Supersized G‑7 Sanctions
In closed-door sessions with G‑7 allies, Biden dived into more “severe measures” against the Kremlin after Putin’s invasion began. He also met with Ukrainian President Zelensky and convened his National Security Council to keep the playbook sharp.
Pressure In and Out
Domestically, Biden faces scrutiny for delaying sanctions until after the military blitz. He promised diplomacy earlier, even tossing the idea of a summit to the table—until Moscow came out swinging.
Economic & Oil Fallout
Biden warned that Ukraine’s conflict could spike U.S. fuel prices, but the White House is coordinating with allies on strategic crude reserves to soften the blow. He also urged oil companies to not exploit this opportunity to raise prices.
The Congress Tension
Both sides of the House lobby for the White House to ramp up tougher actions—more military aid to Ukraine, stringent sanctions, export controls, and pulling Russia from international orgs. Senator Bob Menendez summed it up: “Today marks a historical shift in how the world sees and deals with the despot in Moscow.”
As the war rages on and the Middle–Term elections loom, Biden’s picket flag stands tall amidst rising inflation, low poll numbers, and global sanctions drama.
