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The US sanctions on Russia hurt Putin's wealthy allies.

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Bernie Sanders
Sen. Bernie Sanders of Vermont.Anna Moneymaker/Getty Images
  • The senator criticized Putin for his wealth.

  • In the wake of Russia's invasion of Ukraine, he assailed Putin as a poster boy for greed.

  • The Biden administration should impose severe sanctions on the Russian leader.

After the Russian leader sparked the biggest land war in Europe in decades, the senator once again criticized Putin.

The chair of the powerful Senate Budget Committee, from Vermont, called Putin the "poster boy for greed and oligarchy".

Before starting a war that could kill thousands and displace millions, he might worry more about the people of Ukraine and Russia and less about his yacht.

—Bernie Sanders (@BernieSanders) February 24, 2022

Julie Coleman reported on February 9 that a yacht that was said to belong to Putin left Germany. According to German media, the yacht was not finished with repairs, but left due to concerns that the West would sanction Russia if it invaded Ukraine.

The yacht is worth $100 million and costs $5 to $10 million a year to run. Although he may be one of the richest people in the world, Putin's net worth has been a mystery.

According to Forbes, Bill Browder calculated that Putin had a net worth of $200 billion. According to traditional measures, Musk's net worth fell below $200 billion on Wednesday.

The comments came in the wake of the invasion of Ukraine by Russia. Financial markets around the world were rattled by Putin's military assault. The health minister of Ukraine said that 57 Ukrainians have been killed and 169 wounded.

At a news conference, President Joe Biden condemned Putin for starting a war against Ukraine and said that he and his country would be held responsible.

He announced a new wave of sanctions against Russian banks. Biden tried to make Americans aware of the higher prices for gas and food.

Financial penalties stopped short of targeting Putin. Biden should impose sanctions on the Russian leader, a step typically reserved for autocrats like the North Korean leader and the Syrian leader.

It was outrageous, if unsurprising, for Trump to praise the invasion as an act of genius.

The United States and our allies must impose severe sanctions on Putin and his cronies. The United States needs to work with international partners to provide humanitarian relief for the Ukrainian people.

The original article is on Business Insider.

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