US, allies to continue ratcheting up economic costs on Russia: Biden
According to US President Joe Biden, sanctions imposed on Russia have wiped away Russia's economic development over the last 15 years.
In response to Russia's special military operation in Ukraine, the United States and its allies will continue to ratchet up economic costs on the country and further isolate it, US President Joe Biden said on Wednesday.
“[T]ogether with our allies and our partners, we are going to keep raising the economic costs and ratchet up the pain for Putin and further increase Russia's economic isolation,” Biden said in an address to North America’s Building Trades Unions Legislative Conference.
US sanctions lucky to wipe out last 15 years of Russia’s economic gains: Biden
The sanctions imposed on Russia have wiped away Russia's economic development over the last 15 years, according to US President Joe Biden on Wednesday.
Read more: Russia responds to sanctions
"Our sanctions are lucky to wipe out the last 15 years of Russia's economic gains and because we have cut Russia off from importing technologies like semiconductors and encryption security and critical components of quantum technology that they need to compete in the 21st century. We are going to stifle Russia's ability as an economy to grow for years to come," Biden said in an address to North America’s Building Trades Unions (NABTU) Legislative Conference.
Signed new executive order to send more Javelin Missiles to Ukraine: Biden
US President Joe Biden announced on Wednesday that he had signed an executive order earlier in the day to transfer additional anti-tank Javelin missiles to Ukraine in response to Russia's special military operation there.
"Last Friday, we announced millions in funding to procure new equipment for Ukraine, advanced drones, laser-guided rocket system. Just today, I signed another package to send more Javelin missiles, those shoulder-mounted missiles that can take out tanks and armored vehicles," Biden said in an address to North America’s Building Trades Unions (NABTU) Legislative Conference.