U.S. Seeks To Slash Russia's GDP By More Than 15%

White House deputy national security adviser Jon Finer says the US is mulling stiff measures to hold Moscow accountable for its invasion of Ukraine, including issuing a declaration that Russia is a state sponsor of terrorism, GlobalSecurity.org reported.

Photo Insert: The US will also attempt to forge a consensus in the global community to stop importing Russian gas and crude oil, as well as metals, minerals, and weapons in order to cut Moscow’s gross domestic product (GDP).

The US will also attempt to forge a consensus in the global community to stop importing Russian gas and crude oil, as well as metals, minerals, and weapons in order to cut Moscow’s gross domestic product (GDP).

Russia is already hampered by the refusal of cargo vessels to load its export commodities while bombings have destroyed a pipeline to Ukraine, from which gas and crude oil are loaded on commercial ships.

Finer said "we're looking at that, as we're looking at a whole range of other, additional steps that we could take to hold Russia accountable for the crimes it's perpetrating on the ground in Ukraine. But I would also say that we are not waiting for those determinations to be made in order to start imposing costs on Russia. Costs that, at this point, outside analysts have said is going to lead to a 15% or more reduction in Russia's GDP over the course of the year and that Russia's own officials are saying the impacts are going to continue to intensify in the weeks and months ahead."

Countries determined by the Secretary of State to have repeatedly provided support for acts of international terrorism are subject to four main categories of sanctions that include restrictions on US foreign assistance, a ban on defense exports and sales, control over exports of dual-use items; and miscellaneous financial and other restrictions.

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