President Joe Biden said on Thursday that the United States would work with allies to penalize the Kremlin for its attack on Ukraine.
During an address from the White House, Biden said the U.S. will sanction major Russian banks “that together hold around $1 trillion in assets,” as well as impose export controls on Russia in order to reduce high-tech imports. Biden also noted that sanctioning Russian President Vladimir Putin is “on the table.”
“Putin is the aggressor. Putin chose this war,” Biden said. “And now, he and his country will bear the consequences.”
Biden continued to nix the idea of sending American troops to Ukraine. However, he has authorized sending more troops to Eastern Europe in the North Atlantic Treaty Organization (NATO) alliance.
“Our forces are not and will not be engaged in the conflict,” he said. “Our forces are not going to Europe to fight in Ukraine but defend our NATO allies and reassure those allies in the east.”
Biden also encouraged American oil and gas companies to not utilize this moment to raise fuel prices.
“American oil and gas companies should not exploit this moment,” he said. “I’ll do everything in my power to limit the pain the American people are feeling at the gas pump.”
As of Thursday at 1:40 p.m. CT, at least 40 Ukrainian soldiers have been killed, according to the Associated Press.
For live updates on Russia’s assault against Ukraine, click here.