The US is banning Russian aircrafts from its airspace and will go after Russians who are involved in the invasion of Ukraine, according to Joe Biden.
The Russian stock market has lost 40% of its value. Putin alone is to blame for Russia's economy collapsing.
Biden said the US Department of Justice was assembling a task force to investigate the crimes of Russians. European allies are joining with us to find and seize their private jets. He said that they were coming for their ill-begotten gains.
Canada and the European Union have also imposed sanctions against Russia.
Biden warned that without consequences, Putin's aggression wouldn't be contained.
When dictators do not pay a price for their aggression, they cause more chaos, Biden said. The costs and threats to America and the world are increasing.
On Sunday, the EU and Canada announced they were closing their airspace to Russian airlines and private planes.
Aeroflot, Russia's largest airline, suspended flights to New York, Washington, Miami and Los Angeles through Wednesday because of Canada's decision.
There are a few flights to India that pass through Russian airspace. American Airlines avoids Russian airspace by flying between Delhi and New York. FedEx andUPS both fly over Russia, despite the fact that they are suspending deliveries to that country.
European airlines fly over Russia more often than US airlines. About 600 flights to or from Europe passed through Russian airspace before the war.
Aviation experts say Russia gets a lot of money from the fees it charges to use its airspace and airports.
The US, Europe and other countries have imposed a wide range of sanctions on Russia, including cutting off Russian banks from the Swift international banking system, preventing the Russian central bank from using its international reserves, and freezing the assets of people.
This report was made possible by wires.
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