PTI, Washington
Published by: Surendra Joshi
Updated Wed, 23 Feb 2022 09:24 AM IST
Summary
Western countries fear that Russia will attack Ukraine. Russia has also ordered to send troops to eastern Ukraine. However, the Kremlin has termed the move a ‘peace mission’.
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Expansion
Putin’s moves have increased the risk of war between Russia and Ukraine and Western countries. Western countries fear that Russia will attack Ukraine. Russia has also ordered to send troops to eastern Ukraine. However, the Kremlin has termed the move a ‘peace mission’.
Who is Dalip Singh
Indian-American citizen Dalip Singh is the Deputy National Security Advisor of America. He advises the Biden administration on the international economy. Along with this, he is also the Deputy Director of the National Economic Council of America. He has appeared in the White House for the second time in recent days amid tensions between Ukraine and Russia. He is considered close to US President Joe Biden. When considering imposing sanctions against Russia over the Ukraine crisis, the Biden administration first called Duleep Singh to the White House. White House spokeswoman Jen Psaki said about Dalip Singh that Singh was in high demand, that is why he was called. He is playing a key role in the Biden administration’s Russia policy.
Strong attitude towards Russia in first press conference
After President Biden’s signing of the executive order on sanctions on Russia, Dalip Singh showed sharp attitude towards Russia in the first press conference at the White House. He told how harsh the US policy towards Russia would be. “Russian action against Ukraine has started, so our response has also accelerated,” he said. Our speed and our coordination is historic. We also got Russia’s important Nord Stream-2 natural gas project closed overnight from Germany. It usually takes weeks and months to impose such restrictions, but the Biden administration, under the leadership of Duleep Singh, took swift action.
Great pain given to Russia
Dalip Singh said that Russia has made a huge investment of $ 11 billion in the Nord-2 project to supply gas to Germany. Now this investment is wasted. The project was supposed to play a key role in replenishing the Russian treasury. This is not just an economic blow to Russia, but plans to make Europe depend on it for gas after the project’s closure is doomed.
Dalip Singh said that we have shown strength through our economic restrictions. We haven’t done anything wrong by doing this. We can give the same pain to Russia for the time being. Together with our allies, we have tried to isolate Russia from the global economic system. Singh said two of Russia’s biggest financial institutions would also be banned if Russia attacked Ukraine. They have huge assets worth 750 billion dollars. These account for more than half of the assets of the Russian banking system.
Major restrictions imposed so far
- Under the leadership of America, so far European countries have imposed many major economic sanctions against Russia.
- Russia’s fifth largest financial institution ‘VEB’, has been banned. It is the national bank of Russia. It has assets of about 50 billion dollars.
- Russia’s Promsvaz Bank has also been banned. It has a net worth of $35 billion. Russia spends its military through this bank.
- The $11 billion Nord gas project, which supplies gas to Germany and Europe, has been put on hold.
- According to Dalip Singh, the complete ban on Russian financial institutions means that these banks will not be able to do any transactions with America or Europe.
- These banks can no longer withdraw their money and the assets of these Russian banks in US institutions have also been frozen.