Today, I`m authorizing the strong sanctions and new limitations on what can be exported to Russia. This is going to impose severe coast on the Russian economy, both immediately, and overtime. We have purposely designed these sanctions to minimize the long term impact on Russia, and to minimize the impact on the United States on our allies. It will be a major hit to Putin `s long-term strategic ambitions.
Biden announces new sanctions against Russia in response to the invasion.
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