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Biden Addresses Nation As Tragedy Unfolds in Europe

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ON THIS DAY IN HISTORY…
1862: First Legal Tender Act 1862 is passed by the US Congress, authorizing the United States note (greenback) into circulation, the first fiat paper money that was legal tender in America.

President Joe Biden announced new sanctions against Russia after its attack on Ukraine, declaring that Russia’s President Vladimir Putin “chose this war” and his country will bear the consequences.

Biden condemned Russia for launching the military strike in Ukraine, and announced a new set of sanctions and limitations on exports to Russia. The 27 EU members and G7 members will also participate in these sanctions, Biden added.

“Putin is the aggressor,” Biden said. “Putin chose this war, and now he and his country will bear the consequences.”

Biden also said that the U.S. would be deploying an additionally 7,000 troops to Germany to help bolster NATO’s defenses.

The AP noted that Biden, for now, opted to hold off on imposing some of the most severe potential sanctions, including cutting Russia out of the SWIFT payment system, which allows for the transfers of money from bank to bank around the globe.

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“We demand the disconnection of Russia from SWIFT, the introduction of a no-fly zone over Ukraine and other effective steps to stop the aggressor,” Ukraine President Volodymyr Zelenskyy tweeted.

Senate Minority Leader Mitch McConnell (R-KY) expressed support but also urged Biden to apply maximum pressure on Putin.

“We’re all together at this point and we need to be together about what should be done,” McConnell said.

“But I have some advice: Ratchet the sanctions all the way up. Don’t hold any back.”

An advisor of Zelenskyy confirmed that at least 40 people were killed following reports of explosions in multiple Ukrainian cities.

According to Ukraine’s military, four ballistic missiles were launched into the country from Belarus.

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Zelenskyy has cut diplomatic ties with Russia and declared martial law.


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Biden hits Russia with new sanctions, says Putin ‘chose’ war

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