'Ukraine Will Never Be a Win for Putin, Ruble Worth Less Than a Penny': Biden

US President Joe Biden

(Photo: AP/PTI)

After banning the import of Russian oil in the United States, President Joe Biden said on Tuesday, 8 March, that Ukraine ‘will never be a victory’ for Russia, reported AFP.

Western governments have imposed unprecedented sanctions on Russia in an effort to bleed dry the country’s economic lifeline in nearly two weeks since Putin invaded Ukraine.

Speaking from the White House, Biden said:

“Russia may continue to grind out its advance at a horrible price but this much is already clear – Ukraine will never be a victory for Putin.”

He added, “Putin may be able to take a city, but he'll never be able to hold the country.”

On Refugee Crisis

Biden said that the invasion has created 2 million refugees and promised to stand by with its European allies. He said, “The United States will share in the responsibility of caring for the refugees so that the costs do not fall entirely on the European countries bordering Ukraine.”

Launching a verbal attack on Putin for indiscriminate killing of civilians in shelling and shootings, Biden added, “Putin seems determined to continue on his murderous path no matter the cost."

US intelligence officials have stated that Russia may be aiming for a protracted war and Washington's priority is to supply military assistance to Ukraine to help fight it back, reported PTI.

'Ruble Worth Less Than a Penny'

Biden said, “We're going to continue to support the brave Ukrainian people as they fight for their country.”

In response to reporter’s question on the ban on tough Western sanctions, Biden said that the sanctions are “the most significant” in history and has caused Russia economy to collapse. As per a report by PTI, Biden said, “Ruble is now down 50 per cent and worth less than one American penny since Putin announced his war."

“We cut Russia's largest banks from the international financial system and it has crippled their ability to do business with the rest of the world.”

US President Joe Biden

A senior official of the Biden administration said later that Russia has become a “global economic and financial pariah.”

The official said that over 30 countries, which represent over half of the world’s economy, have announced sanctions against Russia and “cut off its access to high tech, sap its growth potential and weaken its military for years to come."

(With inputs from AFP, PTI)