Biden Does What Putin Didn’t Expect By Cutting Off Russia’s Western Financing

Last updated on July 18th, 2023 at 01:47 pm

Putin didn’t think that Biden and the west would cut off Russia from western banks, but he was wrong.

Video:

Biden cuts off Russia's Western money supply with new sanctions. pic.twitter.com/iKLeMrcdhJ

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— Sarah Reese Jones (@PoliticusSarah) February 22, 2022

President Biden announced at the White House:

We are implementing full blocking sanctions on two Russian financial institutions, V & B and their military bank. 

We are moving on their sovereign debt. We have cut off Russia’s government from western financing. It can no longer raise money from the west and can trade in its debt on European markets either. Starting tomorrow and continuing ahead, we’ll also impose sanctions on Russia’s elites and their family members, sharing in the corrupt games of the Kremlin policies, and should share in the pain as well. 

Putin apparently didn’t think that Biden and the west would cut off their financing:

These are significant sanctions, especially cutting off Russia from western financing. I don’t believe Putin calculated the US and Europe had it in them.

— Jim Sciutto (@jimsciutto) February 22, 2022

Putin clearly got very comfortable with being able to do whatever he wanted while Donald Trump was President.

With Joe Biden in office, Putin seems to be underestimating what the President and the west are willing to do to stop him.

President Biden announced serious sanctions and if Putin continues his invasion of Ukraine, things will only get worse for Russia.

The Russians can’t access western financing, which is a giant blow to the nation’s economy.

Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association