The American leader admitted that possible new sanctions against Russia could hit the United States and lead to an increase in fuel prices.
Western countries will impose sanctions against Russia in the field of export control and finance in the event of aggression against Ukraine, and will also prevent the start of the “Nord Stream-2” pipeline. This was stated by U.S. President Joe Biden, speaking at the White House.
“If Russia takes steps (against Ukraine), we will unite the whole world to resist its aggression. The United States and our allies and partners around the world are ready to impose powerful sanctions in the field of export control,” he said. “We will create powerful pressure on their largest and most significant financial institutions and key industries. We are ready to use these measures immediately if Russia takes steps (against Ukraine),” the American leader added.
“And as for the “Nord Stream-2″ pipeline, through which natural gas would be delivered from Russia to Germany, then if Russia carries out a further invasion of Ukraine, this will not happen,” the host of the White House said.
Biden added that with such a development of events, Western countries “will create long-term consequences that will undermine Russia’s economic and strategic competitiveness.”
Consequences of sanctions
The American leader admitted that possible new Western sanctions against Russia could hit the United States and lead to an increase in fuel prices.
“I won’t pretend that it will be painless. This may affect prices in the energy sector. So we are taking active steps to ease the pressure on our energy markets and counteract price increases by coordinating with the largest energy suppliers and consumers to use all the tools at our disposal and help with gasoline prices,” he said.
“If Russia decides to invade, then we will face the consequences at home,” he continued. – But the American people understand that there is a price to pay for the protection of democracy and freedom. This is a cause that unites both Republicans and Democrats.”
At the same time, Biden noted that if this price is not paid now, then in the future “it will be higher.”