White House: Sanctions Against Russia will be Directed against Industry, not ordinary Consumers
The administration of US President Joe Biden plans to spare ordinary Russians from the burden of US export controls if Russia invades Ukraine and focuses on industrial sectors, a White House spokesman was quoted as saying by Reuters.
“Key figures” will also be subject to “massive sanctions”, a senior official at the trade ministry said in a separate statement yesterday.
These statements narrow the scope of potential restrictions on imports into Russia, which have so far been said in general terms to be aimed at hampering Russia's economy.
We cannot say in advance what each action will be, but the intention is to have measures that really reduce industrial capacity and industrial production over time, and not harm ordinary Russian consumers.
This was stated yesterday by the National Security Officer at the White House Peter Harrell in an online speech at an event at the Export Center in Massachusetts, which was covered by very few media.
Harrell, who is part of the National Security Council, said the United States was prepared to impose “crippling” financial costs on major Russian financial institutions as soon as it invaded Ukraine, as well as impose broad export controls that would reduce Russia's industrial capacity in the medium and long term.
Trade Ministry spokeswoman Thea Kendler, who spoke at the same event yesterday, said massive sanctions were being considered against key figures and industries that “were not on the table in 2014.” Then Russia invaded and annexed the Crimean peninsula from Ukraine.
/BTA