Biden announced Thursday afternoon that there will be more sanctions on Russia now that they have officially attacked Ukraine.
However, President Biden did not directly sanction Vladimir Putin, nor the SWIFT banking system since Europe has not agreed to this measure. Biden has not stated why he is not sanctioning Putin directly, despite being pressed by reporters.
Biden said that the sanctions will be an effort that is worked collectively between the United States and other nations.
And though not directly affecting Putin, the sanctions will have an impact on other Russian elites due to their estates and other investments in the United States.
The sanctions will also limit Russian borrowing opportunities.
It is unclear when or if the west will intervene.
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