1/25, 5:16 PM (Source: TeleTrader)
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US will apply 'potent' export controls if Russia invades - report

The United States is ready to apply "potent" sanctions and export controls on sensitive sectors of the Russian economy should it invade Ukraine, according to a report published by the Wall Street Journal on Tuesday citing officials familiar with the matter.

Although the sources declined to give details on the type of sanctions to be imposed, they mentioned that the sales of Russian markets, the cost of borrowing, and the value of Russia's currency will make the sanctions effective and "potent."

"The export control options we're considering alongside our allies and partners, would hit (Vladimir) Putin's strategic ambitions to industrialize his economy quite hard, and it would impair areas that are of importance to him, whether it's in artificial intelligence, quantum computing, or defense or aerospace or other key sectors," a senior official stated.

Baha Breaking News (BBN) / JG