WASHINGTON DC (TASS): In the event of Russia’s invasion of Ukraine, the United States will immediately introduce the entire planned package of sanctions, their gradual expansion is a thing of the past. This was announced to journalists on Tuesday by a senior US administration official.
“We are ready to impose sanctions that will have massive consequences and which we did not consider in 2014. This means that the principle of gradualism is a thing of the past. This time we will start at the very top of the escalation ladder and stay there,” he said.
An administration official expressed the view that the Russian market is already reacting to the threat of sanctions. “The accelerating sale of assets, the rise in the price of lending, the value of the ruble, the implied level of risk – all this reflects the scale of the economic consequences that will come to the Russian economy as a result of our actions in the event of an invasion,” he said. The administration official stressed that financial sanctions are being worked out in close coordination with European allies and have their full support.
The US intends to introduce measures to limit high-tech exports to Russia in the event of its alleged “invasion” of Ukraine, a senior US administration official said.
“Just like financial sanctions that restrict foreign capital, export controls deprive Russia of something that it needs and cannot easily replace [with anything] from anywhere else. In the case of export controls, we are talking about difficult [ high and advanced] technologies. This is something that we develop and manufacture and is a significant contribution to the strategic ambitions of Russia. Therefore, these export controls can be considered as trade restrictions within the broader interests of US national security, “the official argued. These restrictions, according to him, are “incredibly powerful.” “We use them to ban the export of American products to Russia, as well as potentially some foreign-made goods that are subject to US export regulations,” the official added. Given the “global dominance of US-origin software, technology and tools, the export control options that we are considering with allies and partners will deal a serious blow to Russia’s strategic artificial intelligence, quantum computing, defense, aerospace or other key sectors.”
According to official, all export control options are being considered with Washington’s allies and partners. “While our actions may differ, we are united in our intention to impose massive consequences that will deal a serious and immediate blow to Russia over time, make its economy even more fragile and undermine [Russian President Vladimir] Putin’s ambition to influence the world stage,” – said the official.
In addition to export restrictions, he continued, in the event of Russia’s alleged “invasion” of Ukraine against Moscow, the US, its allies and partners in Europe will impose financial sanctions that “have an immediate effect.” They will affect Russian financial institutions and state enterprises. These restrictions are also still being discussed.
Export restrictions in the event of a proposed Russian invasion of Ukraine by the West will affect the defense and aerospace sectors, a senior US administration official said.
“The export control options that we are considering with allies and partners will deal a serious blow to Russia’s strategic ambitions to industrialize the economy,” the official said., defense and aerospace sectors”.
According to him, this is not a complete list of US measures, “all options are on the table.”
The administration official believes that these export restrictions will allegedly have a minimal effect on the global supply chain, since they concern “refined products, especially important for Russia’s ambitions to develop high technologies in the defense and space sectors.” “It concerns lasers, shipping sensors, artificial intelligence robots, quantum [computers],” he said. According to the official, Russia will not be able to replace these technologies.
He said that he United States is coordinating with its European allies in the event of cuts in gas supplies from Russia, which they fear could occur in the event of an escalation around Ukraine.
“Interruptions in physical energy supplies through Ukraine will obviously have a very strong impact on the gas market in Europe. So we are working with our European allies to coordinate the planning of our response, including talking to them about how to use their existing energy reserves., which are clearly at a significantly lower level this year due to reduced supplies from Russia in the past few months,” he said at a briefing on economic containment measures against the Russian Federation in the event of an escalation around Ukraine.
According to him, Washington, along with its European allies, is seeking to “identify areas where Russia can use energy as a weapon in its aggressive strategy against Ukraine.” As such, the U.S. is conducting “contingency planning should Russia invade [Ukraine] and attempt to influence the world order, damage infrastructure, or withhold supplies to the market in response to sanctions or other counter-action by the United States.” and their allies.”
“We are working with countries and companies around the world to ensure the security of supply and reduce the risk of price spikes that could impact both the American people and the global economy,” the briefing host said. “We are working to identify additional volumes of natural gas not from Russia, but from various [other] regions of the world ranging from North Africa and the Middle East to Asia and the United States,” the official added.
The Russian economy will face consequences if the Russian Federation tries to limit gas supplies to Europe because of the situation around Ukraine, a senior US administration official said.
“As we prepare measures to apply maximum pressure on the Russian leadership, we are equally focused on minimizing the undesirable consequences. We know that many of you have questions about the potential impact of the conflict in Ukraine on energy supplies. <… > If Russia decides to weaponize its supplies of natural gas and crude oil, there will be consequences for the Russian economy,” he said.
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