It's becoming more and more difficult for Putin to fund Ukrainian war every single day, says WH
Washington(PTI): It is becoming more and more difficult for Russian President Vladimir Putin to fund his war in Ukraine, the White House said Tuesday adding that more tough sanctions are to be announced on Wednesday.
What we are doing and we're already seeing effectively happen is the financial system in Russia is near the brink of collapse. I mean, they're projecting 15 per cent inflation, a contraction of 15 percent in their economy. Private sector businesses are pulling out of the country. It is more and more difficult for President Putin to fund this war every single day. That has an impact, White House Press Secretary Jen Psaki told reporters at her daily news conference.
But what we're also doing is providing a historic amount of military and security assistance, which is what they've been using effectively over the last few weeks to fight this war and push back the Russians, she said.
At the same time, Psaki reiterated that the United States is not calling for regime change.
That has not been our policy and continues not to be our policy. But again, our view is that he is a war criminal and he is somebody who should be looked at by the international system which evaluates war crimes, she said.
The White House is planning another set of sanctions on Russia. This is likely to be announced on Wednesday.
In coordination with the G-7 and the EU, an additional sweeping package of sanction measures that will impose costs on Russia, send it further down the road of economic, financial, and technological isolation, she said.
This will include a ban on all new investment in Russia and increased sanctions on financial institutions and state owned enterprises in Russia and sanctions on Russian government officials and their family members. These measures will degrade key instruments of Russian state power and pose acute and immediate economic harm on Russia and hold accountable the Russian kleptocracy that funds and supports Putin's war, she said.
The US is working to rally the world and taking steps to hold Russia accountable.
It does not mean they're identical. It doesn't mean they'll all happen on the exact same timeline. But that is what we're continuing to work to do from here, she said.
Responding to a question, Psaki said the US is coordinating with the G-7 and the EU, which is about 50 per cent of the global economy, which is still a significant unified entity in holding Russia accountable.
In our conversations, obviously, we had our Deputy National Security Advisor travel to India recently to convey the implementation of our own sanctions, she said when told that major countries like China, India and Brazil are not participating in the sanctions.
Our expectation is not only that other countries will abide by but that they will also be a constructive part of holding Russia accountable, she said.
Observing that Putin is a pariah, Psaki said that this has all been the result of a coordinated global effort to put in place economic and financial consequences that are having an incredible effect.
In addition, we have made it much more difficult because of export controls and other limitations on the type of materials that President Putin and the Russians can purchase to build the technological systems and capacities to fight wars in addition to funding wars. Those are all components that had been the result of the efforts to date, she said.
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India & Israel elevate ties to special strategic partnership, vow to soon conclude free trade deal
Jerusalem (PTI): India and Israel on Thursday elevated their "time-tested" relationship to a special strategic partnership and agreed to soon firm up a "mutually beneficial" free trade deal even as Prime Minister Narendra Modi strongly backed the Gaza peace initiative, asserting that humanity must never become a victim of conflict.
Following talks between Modi and his Israeli counterpart Benjamin Netanyahu, the two sides inked a plethora of agreements to expand cooperation in areas of trade, agriculture, energy, cyberspace and digital payment.
India and Israel also vowed to expand their already close defence partnership by working towards joint development and joint production of military hardware under the framework of the transfer of technologies.
In his media statement, Modi said India's security interest is linked to peace and stability in the Middle East, adding that New Delhi fully supports the Gaza Peace Initiative.
"India's stance is clear: humanity must never become a victim of conflict. A path to peace has been created through the Gaza Peace Plan. India has fully supported these efforts," he said.
"In the future as well, we will continue dialogue and cooperation with all countries," he said.
PM Modi landed in Israel on Wednesday on a two-day visit. It is his second visit to Israel in nine years.
In his remarks, the prime minister said India and Israel have a united view that there is no place for terrorism in the world and both sides stand shoulder-to-shoulder in countering terrorism and its supporters.
"Our relationship is founded on the strong bedrock of deep trust, shared democratic values, and human sensitivities. Our bond has stood the test of every trial of time," he said.
"Today, we have taken the historic decision to elevate our time-tested partnership to the status of a 'Special Strategic Partnership'," he said.
The prime minister also announced the establishment of an India-Israel critical and emerging technologies partnership to impart a new momentum for cooperation in areas of artificial intelligence, quantum, and critical minerals. "I am pleased that an agreement has been reached for the use of UPI in Israel," he said.
The prime minister, referring to the threat of terrorism, said India and Israel will continue to confront the menace unitedly.
"India and Israel are completely clear that there is no place for terrorism in the world. In any form, in any expression, terrorism cannot be accepted," he said.
"We have stood shoulder-to-shoulder in opposing terrorism and its supporters, and we will continue to do so," he added.
India and Israel also discussed the implementation of the India-Middle East Europe Economic Corridor (IMEC) and cooperation under the framework of I2U2 (India-Israel-UAE-USA).
