family member s memorial service was he was on a call with his national security team and authorized an additional $350 million in military aid for ukraine. the us and allies have committed to a scaled back version of the nuclear option, blocking of certain banks with a swift banking system. here is what president biden said in an interview yesterday. president biden: there is no sanction that is immediately is not like you can sanction someone and say you are no longer going to be able to be the president of russia. reporter: fox news spoke to donald trump, he spoke about the bravery by the people and president of ukraine, call that incredible but concerns that vladimir putin could find work arounds to these sanctions. they have to do more than
over the last couple days, and by the same token, what we can do not to help the russians in this. let s get back to the sanction. we haven t yet to really come down full-throated-leon vladimir putin himself. we haven t forced him out of the swift banking system. does that make sense to you? absolutely. you have to hit putin where it hurts, which is his wallet. he s reportedly one of the richest leaders in the world. you have to look at the airline industry, make us really hurt the russian oligarchs. but the swiss banking system, if we were to ban russian from that, that s the equivalent about 5% of russia s gdp. if they were to be a moratorium on exports of oil to our european allies, that s worth about $50 billion a year to russia. you look at the u.s. oil imports, we are importing upwards of 6,000 barrels a day, and one of every 12 bales in the
republican senator marsha blackburn on her move to punish vladimir putin. what are you doing to isolate him? we are working on a resolution that would support removing them from the swift banking system. this is what allows easy transfer of financial transactions across borders. this is something we need to do. it will make it difficult for russia to support their troops financially and carry forward with their economy but it will tell us how much china is prepared to support russia in this in denver.
the weak links and are they going to come along with us. and some ways, europeans are ahead of us on the sanctions. we re with them, but they re slightly ahead. particularly, germany has radically change their positions. both in terms of sanctions. nord stream 2 and they re giving military assistance to ukraine. i applaud that. at the same time, i do think sanctions will change putin s calculus while he s waging this work. at least not in the short run. for months years, maybe, but not in the short. right ambassador, stay with, us i want to talk more about this. but i also want to go back to you nbc s josh and that was home to the swift banking system. josh, a member of the year is panda and some of the most potentially crippling economic sanctions on russia. tell us about those, who are these penalties expected to hit? and what is the impact expected
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