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Oh engaing in the swift system -- >> neil: they're not going there. for vladimir putin that is a relief. >> that's his out. unless they go there, i don't think he will care much. that's what my sources are saying. ceos of financial firms, the oligarchs, that's an inconvenience. the real pressure comes if russian rich people, if vladimir putin, if the country itself cannot finance it, cannot do any transactions whatsoever. you can only do that if you bar them from the swift system. they're no going there, neil. it's unfortunate. >> neil: that's a way for countries to get and exchange funds, mon...

States. so today, i am announcing first traunz sanctions to impost costs on russia. and response to their actions yesterday. these have been clothesly coordinated with our allies and partners who will continue to escalate sanctions if russia escalates. we implementing if you recall blocking sanctions. knowledge two institutions. the eb and military banks. we sanctions on russian sovereign debt. that means we cut off russia's government from western financing. it can no longer raise money from the west. and cannot trade in its new debts on our markets or european markets either. starting tomorr...

>> today, in response to what he called the beginning of a russian invasion of ukraine, president biden announced a first round of sanctions against russia. >> we're implementing full blocking sanctions on two large russian financial institutions. the e b, and their military bank. we are implementing sanctions on russian sovereign debt. that means we've cut off russians government from russian -- western financing. they can no longer raise money from the west, and cannot trade in its new debt on our markets, or european markets, either. starting tomorrow, and canoe in in the days ahead -- >> p...

President biden announced sanctions on a company that is 0vitz being the nord stream two between russia and germany. in the statement biden said... goes on to say that... today he has directed his to nordstrom ag. he says these are not the in response to russia's actions in ukraine. 0n the in response to russia's actions in ukraine. on tuesday the us an ounce sanctions of serving the country on aid for the up here is some of whatjoe biden had to say them. we some of what joe biden had to say them. ~ . , them. we are implementing complemented _ them. we are implementing complemented sanctions -...

Cannot trade its new debt on our markets for european markets either. that's a pretty biggest ka laying in terms of of the kind of sanctions we have seen in past and then of course, the threat of had targeting russia elite oligarchs their families. that's designed to squeeze putin from those who are closet to him but that's not -- the beginning. not the final sanctions package they are putting together. he mentioned that he moving u.s. troops already in europe into the states into those areas that something that vladimir putin has not wanted to see that's significant move. we don't know how ma...