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Watch Live: President Biden Unveils More Punishments For Putin

Courtesy of ZeroHedge View original post here.

Having tried to shift the narrative to blaming Putin for all that ails the Democratic party's poor standings with the American public, President Biden is set to announce more actions this morning to further isolate Russia economically from the rest of the world (except of course, the 2.7 billion people living in China and India).

FOX News White House correspondent Peter Doocy to WH press secretary Jen Psaki at Thursday's briefing:

"Are you guys going to start blaming Putin for everything until the midterms? [...] Last month, the statement didn't mention the Putin Price Hike. It mentioned inflation because of the pandemic."

Even The Wall Street Journal is calling the Biden admin out for blame-scaping Putin for 'inflation'…

Inflation keeps rising, and working Americans are paying the price in falling real incomes. That’s the bad news from Thursday’s consumer-price index report for February, and the White House can’t blame Vladimir Putin for this one, though it’s trying.

But we are more than confident, the president will use this morning's address to reinforce that exact narrative.

The Associated Press reports that the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine. The move would be in conjunction with the European Union and the Group of Seven countries.

Stripping the most favored nation status from Russia would allow the U.S. and allies to impose higher tariffs on some Russian imports, increasing the isolation of the Russian economy in retaliation for the invasion.

The Wall Street Journal reports that the US is expected to ban Russian imports of alcohol and seafood entirely.

Presumably that polled well after we reported the actions of some store owners. GOP hawks had already bee calling for this.

Despite these initiatives, Russia might not be impacted much by the boycott.

Only around 1.2 percent of all vodka imports into the United States in the first half of 2021 came from Russia, according to data from the Distilled Spirits Council of the United States.

The most popular vodka brands sold in the United States like Smirnoff, Svedka, New Amsterdam, Tito’s, Absolut, Ciroc, and SKYY, are made either domestically or in European countries like the UK, France, and Sweden.

The White House said the actions would “continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.”

And when those tariffs hit – and send prices even higher – you know who Biden will blame…

Watch Live (due to start at 1015ET):


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