Biden announces sweeping sanctions against Russia following Ukraine invasion

President Biden announces unprecedented economic sanctions against Russia in response to the full-scale invasion of Ukraine, targeting Russian banks, sovereign wealth funds, and technology exports. The sanctions cut off Russia's largest banks from the U.S. financial system, prohibit U.S. investment in Russia, and restrict exports of technology to Russia's defense sector. The United States also coordinates with European allies and G7 partners to impose parallel sanctions, representing the most significant economic action ever taken against a major economy. Biden pledges to continue escalating sanctions until Russia withdraws from Ukraine.