shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > World News > Article > Biden bans Russian planes from American airspace

Biden bans Russian planes from American airspace

Updated on: 02 March,2022 08:51 AM IST  |  Washington
PTI |

He said the Russian stock market has lost 40 per cent of its value and trading remains suspended. Russia's economy is reeling and President Vladimir Putin alone is to blame, he added

Biden bans Russian planes from American airspace

US President Joe Biden. Pic/PTI

President Joe Biden has announced that the United States is closing its airspace to Russian planes, asserting that this along with other punitive measures would weaken Russia.


"Tonight, I am announcing that we will join our allies in closing off American air space to all Russian flights " further isolating Russia " and adding an additional squeeze " on their economy. The Ruble has lost 30 per cent of its value," Biden told lawmakers in his maiden State of the Union Address on Tuesday.


He said the Russian stock market has lost 40 per cent of its value and trading remains suspended. Russia's economy is reeling and President Vladimir Putin alone is to blame, he said.


"Together with our allies we are right now enforcing powerful economic sanctions. We are cutting off Russia's largest banks from the international financial system.

Preventing Russia's central bank from defending the Russian Ruble making Putin's $630 Billion "war fund" worthless," he said.

"We are choking off Russia's access to technology that will sap its economic strength and weaken its military for years to come. Tonight I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime no more," he said.

The US Department of Justice is assembling a dedicated task force to go after the crimes of Russian oligarchs.

"We are joining with our European allies to find and seize your yachts, your luxury apartments and your private jets. We are coming for your ill-begotten gains," he added.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK