European Union leaders met in Brussels on Thursday evening and pored over the details of proposed sanctions, which they insisted would deliver a heavy blow to the Russian economy.
Written by Edward Wong, Michael Crowley and Ana Swanson
President Joe Biden, vowing to turn President Vladimir Putin of Russia into a “pariah,” announced tough new sanctions Thursday aimed at cutting off Russia’s largest banks and some oligarchs from much of the global financial system and preventing the country from importing US technology critical to its defense, aerospace and maritime industries.
The package unveiled by the US government is expected to ripple across companies and households in Russia, where anxiety over Putin’s full-scale invasion of Ukraine has already begun setting in. The nation’s stock market fell more than 30% Thursday, wiping out a huge amount of wealth.
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