Biden announced in his speech that they closed the US airspace to Russian planes and said that Putin miscalculated the war.
US President Joe Biden announced that the US had closed its airspace to all Russian aircraft due to Russia’s military attack on Ukraine. He evaluated that this would further isolate Russia and put more pressure on its economy.
Biden pointed out that the Russian ruble has lost 30 percent of its value so far because of the sanctions they have imposed.
‘’Putin thought that the West and NATO would not respond. Putin was wrong. We were prepared. Together with our allies, we are currently imposing strong economic sanctions. We are severing Russia’s largest banks from the international financial system. By preventing the Russian Central Bank from defending the ruble, we are devaluing Putin’s $630 billion war fund.” Biden said.
Biden also underlined that Russia’s access to technology is also restricted and this will weaken its economic power and military in the coming years.
