US President Joe Biden Extends Sanctions Against Russia, Has Argued Alternatives Would Involve Waging Third World War
U.S. President Joe Biden decided to extend the sanctions that the U.S. government enacted against Russia for one more year, arguing that the country continues to pose a threat to the security of the nation. Biden had talked about these sanctions before, explaining that the only option besides enacting them would involve a direct international military conflict.
U.S. President Joe Biden Extends Anti-Russia Sanctions for One More Year
U.S. president Joe Biden has decided to extend the sanctions enacted against the Russian Federation for one year, on the basis that activities of the country “continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.”
According to Executive Order 14024, issued on April 15, 2021, the Russian government has been conducting “efforts to undermine the conduct of free and fair democratic elections and democratic institutions in the United States … and to violate well-established principles of international law, including respect for the territorial integrity of states.”
This sanctions package enabled the designation of several Russian entities, including the Russian Duma and its members, and a slew of companies involved with the military-industrial complex of the country. The order was expanded later to designate more individuals and companies aiding the country in evading sanctions.
Two Options: Sanctions or War
The enactment and expansion of these sanctions, as well as their efficiency, have been criticized by several analysts, who claim they have contributed to the processes that many countries, like China and India, are currently developing in order to reduce their reliance on the U.S. dollar as a reserve and settlement currency.
Senator Marco Rubio commented on the sanctions, stating that other major governments are creating an alternate international settlements market away from the dollar. On March, 30 in an interview on Fox News, he stated:
We won’t have to talk about sanctions in five years because there will be so many countries transacting in currencies other than the dollar that we won’t have the ability to sanction.
However, President Biden had expressed his position on prior and expanded Russian sanctions before, considering them as the “broadest” in history and stating that they represent an alternative to a direct military confrontation. In an interview with Youtuber Brian Tyler Cohen posted on February 26, 2022, referring to the sanctions issue, Biden stated:
You have two options. Start a Third World War, go to war with Russia, physically. Or two, make sure that the country that acts so contrary to international law ends up paying a price for having done it.
Tags in this story Brian Tyler Cohen, China, India, Joe Biden, marco rubio, U.S. dollar, U.S. president, world war three
What do you think about the extension of sanctions against Russia? Tell us in the comments section below.
Ordinal Inscriptions Surpass 1 Million Mark, Miners Collect $4.7M in Fees as Bitcoin NFT Trend Continues NEWS | 11 hours ago Russian Law Enforcement Prepares to Seize Crypto Assets, Seeks Permission to Set Up Wallets NEWS | 12 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons, Shag 7799 / Shutterstock.com
Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimerShow comments
More Popular News
In Case You Missed It
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized … read more.
NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design