Outgoing US President Joe Biden slaps last-minute sanctions on Russia days before stepping down

The United States on Jan 10 imposed massive sanctions on Russia, targeting its energy sector, to help Ukraine maintain its independence and fight against Moscow, outgoing US President Joe Biden said.

Ten days before passing on the baton to Donald Trump, the Biden Administration slapped sanctions on scores of companies and entities that were helping Russia in its export of energy, in particular gas. Two of those companies are from India.

The two Indian companies Skyhart Management Services and Avision Management Services have been sanctioned for allegedly violating the American sanctions on Russia by involving in the transportation of LNG from the warring country.

“The sanctions are imposed today because they will have a profound effect on the growth of the Russian economy and make it more difficult for (Russian President Vladimir) Putin to conduct his wars.

"It is probable that gas prices could increase as much as US$ 0.03 to US$ 0.04 a gallon, but that’s going to have a more profound impact on Russia’s ability to continue to act in the way it’s acting in the conduct of war,” Biden said in response to a question.

“I already decided that Putin’s in tough shape right now. I think it’s really important that he does not have any breathing room to continue to do the God-awful things he’s continuing to do. As I said, he’s got his own problems economically, significant problems economically as well as politically at home,” Biden told reporters at a White House news conference.

“So, I decided to do everything I possibly could within my power and authority to give Ukraine every advantage it could have to be able to sustain support for an independent Ukraine,” he said, explaining the reason for the last-minute sanctions against Russia.

Biden said he had a long talk with his Ukrainian counterpart Volodymyr Zelenskyy.

“I think that as long as we continue to keep Western Europe united as relates to Ukraine, then there is a real chance that the Ukrainians can prevail because the cost to Russia is incredibly high. Over 600,000 and some dead or wounded, the Koreans they brought in are having high mortality rates as well,” he said.

“I made it clear that I provided every bit of funding with the authority I have as president to be able to do that now. And I know that there are a significant number of Democrats and Republicans on the Hill who think we should continue to support Ukraine. It is my hope and expectation that they will speak up and not agree with the president — if Trump decides to cut off funding from Ukraine,” Biden said.

(PTI)