Russia continues to strike Ukraine despite economic sanctions

KYIV, Ukraine (NBC) – War has arrived in Ukraine. Russia launched a broad invasion by land and air, bombarding major cities across the country, including the capital city of Kyiv.

World leaders are united in outrage against Russian President Vladimir Putin’s attack on a sovereign country.

President Biden addressed the nation Thursday, saying, “Putin is the aggressor. Putin chose this war and now he and his country will bear the consequences.”

Amid reports of casualties, Ukrainian civilians are taking shelter underground or racing to evacuate, so many terrified and tearful.

Missile strikes, so far, are largely targeting military installations and airfields as U.S. defense officials say Russia is trying to “decapitate” and replace Ukraine’s pro-Western government.

President Biden met with his national security advisors and top allies in the G-7, coordinating harsh new sanctions aimed at crushing the Russian economy.

“We will limit Russia’s ability to do business in dollars, euros, pounds, and yen, to be part of the global economy,” Biden said.

With sanctions and uncertainty rocking world markets, President Biden promised to protect American consumers and defended against criticism that he still hasn’t unleashed every economic weapon in his arsenal even as sanctions alone have not prevented Putin’s march to war.

“This is going to take time,” Biden said. “It’s not going to occur, he’s going to say, ‘Oh my god, these sanctions are coming.  I’m going to stand down.’  He’s gonna test the resolve of the west to see if we stay together, and we will.”

President Biden again promised U.S. troops will not be fighting inside Ukraine, but he’s committing more forces to defend NATO allies should they enter Putin’s crosshairs next.

Biden acknowledged one significant crack in the allies’ economic response: Europe is hesitating to kick Russia out of the SWIFT banking system. That would cut Russia off from most international financial transactions but would also damage Europe’s economy.

The president insists the steps he announced are just as punishing.

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