Biden And Allies Form Task Force To Seize Russian Assets

President Biden signs the infrastructure bill

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Last updated on July 18th, 2023 at 01:47 pm

President Biden and US allies have committed to forming a joint task force to seize sanctioned Russian assets worldwide.

As provided to PolitcusUSA by the White House, the President announced in a joint statement with the European Commission, France, Germany, Italy, the United Kingdom, Canada:

We commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions.

As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world.

The allies also announced that Russian sanctioned banks would be removed from the SWIFT messaging systems, which means that they are disconnected from the international financial system and can’t operate globally.

The goal is to tank the Ruble and cut off Russia’s money supply. It is difficult to fight a war and maintain an invasion without money.

The sanctions are more than punishment. The sanctions are also steps to make it more difficult for Putin to continue his invasion of Ukraine. Time is against Putin. Each day that the conflict lingers is another day of pressure on Russia’s dwindling resources.

The next step is for the allies to create a modern-day lend-lease program as the US used in World War II so that Ukraine can have access to any weapons that it needs to fight for its country.

President Biden has provided $1 billion in military aid to Ukraine over the past year, but Putin needs to know that the vast resources of the United States are being made available to defeat him in Ukraine.

Biden isn’t messing around.

A task force will go around the world and seizing the assets of Putin’s allies. Their yachts, luxury homes, real estate, and other items.

The world is about to turn Russia into North Korea, and Putin’s invasion is backfiring.

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Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

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Member of the Society of Professional Journalists and The American Political Science Association

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