Dalip Singh, Deputy National Security Adviser and Deputy Director of the National Economic Council, outlined at the White House the steps to take in the event of an invasion. He said that there will be huge costs for Russia, both in terms of its economy and its strategic location in the world.
Dalip Singh said, “We designed our financial sanctions to impose severe and immediate costs on major Russian financial institutions and state-owned enterprises.” Actions will be coordinated with allies, which will be flexible depending on Putin’s response.
Both financial sanctions and export measures deprive Russia of something it needs and cannot reach anywhere other than the United States or its allies.
Singh said Russia would “become a pariah in the international community” if Ukraine was attacked. In this case, he isolates himself from global financial markets and is deprived of technological input. He said:
In Russia, intense capital outflows, currency pressures, spiraling inflation, higher borrowing costs, economic downturn and erosion of production capacity are expected.
Cover Photo: Getty Images
