In retribution for the invasion of Ukraine, US President Joe Biden declared the restriction of US airspace to Russian planes and promised to go after Russian oligarchs.
The decision, which is in line with European allies, has been in the works for several days and was unveiled following negotiations with US airlines about the potential consequences.
On Tuesday night, Biden warned that the steps will further isolate Vladimir Putin. He stated, "The Ruble has lost 30% of its value." "The Russian stock exchange has lost 40% of its value, and trade has been stopped." Russia's economy is in shambles, and Putin is solely to blame."
The US would also join its European allies in hunting oligarchs and taking their wealth, according to the president.
“We will join our allies in closing off American airspace to all Russian flights, further isolating Russia and adding additional squeeze on their economy,” President Biden said.
In a moment ad-libbed to the speech he said: “He has no idea what’s coming.”
When asked if the US was considering a ban on Russian aircraft flying over the US during Monday's press briefing, White House press secretary Jen Psaki warned of reprisal from Russia.
"No option is off the table," Ms. Psaki said. "I would note that there are a lot of flights, US airlines, that fly over Russia to go to Asia and other parts of the world and we factor in a range of factors.”