U.S. President Joe Biden stated that Putin chose this war and now he and the country will pay the consequences.
Nearly in unison, the United States, 27-nation European Union, and other Western allies announced a series of punitive actions against Russian banks, leading companies, and imposed export restrictions aimed at starving the country’s industries and military from semiconductors and other high tech products.
As the fighting escalated, fears about the future shape of Europe were raised by nations from the U.S., to Western Europe, Japan, South Korea, Australia and South Korea. Initial panic over rising fuel and food costs caused stocks to plummet and oil prices to surge.
The West and its allies did not want to send troops into Ukraine, a non-member state of NATO. This would have the effect of escalating war on the continent. NATO strengthened its Eastern European member states to protect them from an attack.
“Make no mistake: we will defend every ally against an attack on every inch NATO territory,” stated Jens Stoltenberg, chief of NATO.
In the meantime, other countries started to take steps to isolate Moscow to force it to pay a high price and change its course.
Biden has so far resisted the imposition of some of the most severe sanctions. This includes removing Russia from the SWIFT payment system which allows money transfers between banks around the world. The president of Ukraine called for Russia’s exclusion from SWIFT. However, the U.S. expressed concern over the possible damage to European economies.
The U.S. Congress overwhelmingly supported the imposition of severe sanctions against Russia. However, lawmakers from both sides urged the White House for further financial restrictions in order to stop Putin’s attack against Ukraine.
Senator Republican Leader Mitch McConnell stated that he encouraged Biden “to ratchet up” sanctions in order to inflict economic pain on the Russian regime.
McConnell stated, “It’s quite clear that members of Congress, regardless of their party affiliation, want us present a completely united front.”
EU leaders met in an emergency summit to agree on sanctions. These include those that target the transport, financial and energy sectors as well as certain individuals from Russia. The leaders stated that the sanctions will have “massive, severe consequences” for Russia.
Details will not be available until Friday, at the earliest.
Ursula von der Leyen, President of the European Commission, stated that Russia’s industry should be cut off from technologies needed to build the future.
Mark Rutte, the Dutch Prime Minister, stated that it was about Russia’s leadership and being brutal in finances and economics.
Boris Johnson, the British Prime Minister, also announced export restrictions and financial restrictions. Britain will also ban Aeroflot, Russia’s most important airline, from landing on British airports.
Johnson described the attack on Ukraine as “hideous” and barbaric, and said of Putin that he was “now we see him for who he is — a bloodstained aggressor and believes in imperial conquest.”
Canada has imposed sanctions on 58 individuals and entities. This includes members of Russia’s elite, their families, the paramilitary Wagner Group, and major Russian banks. After Prime Minister Justin Trudeau attended the virtual meeting of G-7 industrialized countries, these sanctions will be applied to members of Russia’s Security Council, which includes key cabinet ministers.
Germany withdrew approval for the Nord Stream 2 pipeline from Russia in the days preceding the attack.
Stoltenberg, Johnson and von der Leyen referred to the invasion as a “barbaric attack” on an independent nation that “threatened the stability of Europe and the entire international peace order.”
New U.S. sanctions targeted Belarus’ military and financial institutions, Ukraine’s neighbour to the north. Russia uses Belarus to stage troop movements into Ukraine.
Separately, Friday’s vote at the U.N. Security Council will be on a resolution condemning Russia. It calls for the immediate withdrawal all of its forces. Moscow will veto it.
China was the only superpower to not condemn the attack, and instead blamed the United States and its allies for escalating the crisis.
China, in a clear defense against Moscow, “exhorted parties to respect other’s legitimate security concerns.”
Hua Chunying, spokesperson for the Foreign Ministry, stated that all parties should work together to achieve peace rather than escalating tension or hyping up war. This is language China has used repeatedly to criticize the West during the crisis.
China approved the import of wheat from Russia. This could help reduce Western sanctions. Russia, the largest wheat producer, would be at risk if foreign markets are closed.
The potential repercussions went well beyond geopolitics and economics. Director of the Africa Centers for Disease Control and Prevention was concerned that the crisis would further distract from the efforts to help the least vaccinated continent in the world fight COVID-19.
New York City projection artist David Forsee is displaying “Stand with Ukraine” and the flag of Ukraine on the wall of the United Nations Headquarters. David Forsee, the artist, said that he did this because he is “a concerned individual who doesn’t want his country to be surrounded with nukes.”