BRUSSELS – The United States and its allies are imposing severe sanctions on Russia in the wake of its invasion of Ukraine, Congressman Sean Patrick Maloney said on Thursday. He is in Europe on a fact-finding mission with other lawmakers.
Maloney called the attack a “barbaric action” and he said the sanctions are not not “some minor action” the allies are taking.
“The sanctions being put in place by the United States and our allies are going to banish major Russian financial institutions from global capital markets. It will punish, probably to the point of no return the two main Russian banks that hold about 60 percent of bankable assets in Russia,” he said.
Speaking from Brussels, he said the point is to have Russia “feel some pain and that Russia fails at what it is trying to do.