US President Joe Biden announced new sanctions against Russia on Friday, downgrading trade ties with Moscow and banning the import of Russian alcohol, seafood and diamonds.
“The United States and our allies and partners continue in lockstep to ramp up the economic pressures on Putin and to further isolate Russia on the global stage,” Biden said in televised remarks from the White House.
Biden also banned the US import of goods from “several signature sectors of Russia’s economy,” including seafood, vodka and diamonds.
The White House said this would deny Russia more than $1 billion in export revenues.
“And we’re going to continue to squeeze Putin… to deny Russia the ability to borrow from leading international institutions, such as the International Monetary Fund and the World Bank,” Biden said.
“Putin is the aggressor, and Putin must pay the price. He cannot pursue a war that threatens the very foundations of international peace and stability and then ask for financial help from the international community,” the US president added.