The world has responded to Russia's invasion of Ukraine with crippling sanctions that are damaging the Russian economy.
In Ukraine today, President Volodymyr Zelenskyy accused Russia of war crimes over its continued bombardment of the port city of Mariupol, after reports of a military strike on an art school sheltering hundreds of civilians.
On the first day of the war in Ukraine, it wasn't a general who briefed reporters at the White House. It was Daleep Singh. Daleep Singh: you hear top Russian officials describing the pain they're under. the indications about how we're impacting Putin's calculus are really evident when-- you-- you look at the ways in which they're trying to harden their defenses.Daleep Singh: Well, they're-- they're taking some desperate measures. Capital controls, for example, preventing people within Russia from taking foreign currency out.Daleep Singh: I think it's a desperate move.
Then, they froze the foreign bank accounts of dozens of Russian billionaires and began seizing their toys, such as a $700 million yacht with its own indoor swimming pool.The U.S. and its allies cut the Central Bank off from $300 billion it had stashed in American, European and Asian banks so the Russian government could pay its bills if it ever faced sanctions again.
Daleep Singh: The best projections I see out there right now are suggesting that Russia's economy is gonna be half of its size that it was before this invasion. And we take no pride in the suffering of the Russian people. This is Putin's war. These are Putin's sanctions. And this is Putin's hardship he's putting on the Russian people.
Daleep Singh: Look, we can't get into Putin's mind. He's-- he's a brutal tyrant. All we can control, all we can ensure is that this will be a strategic failure for Putin. It's ultimately--Daleep Singh: It means his ability to project power and exert influence are fundamentally downgraded. Power is not the exercise of brute force--Daleep Singh: --to acquire land. That's not what it's all about.
Sharyn Alfonsi: Was there specific intelligence that you were seeing, or traffic that you were seeing that concerned you? On Friday, in a case of audacious nation-state spin, the Central Bank of Russia referred to the exodus of companies and the cratering economy as"a large scale structural transformation."
Richard Nephew: A couple weeks ago, they were talking about alerting their strategic nuclear forces. They've already talked about how this is economic warfare and that they will retain the ability to respond accordingly. And if you think about that, right now they're in the midst of actual warfare. If their perception is that they're under attack from other countries, that-- that's a pretty scary thought.Richard Nephew: It's one where you don't actually have a guidebook.
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