President Joe Biden said the United States as well as its allies and partners will be imposing severe sanctions on Russia over its invasion of Ukraine.
Biden has scheduled a virtual meeting with G7 Leaders at 9 a.m ET Thursday to discuss the ongoing situation with regard to Russia and Ukraine.
Secretary of State Antony Blinken and Secretary of the Treasury Janet Yellen will attend the meeting.
The President said that after the meeting he will address the nation "to announce the further consequences the United States and our Allies and partners will impose on Russia for this needless act of aggression against Ukraine and global peace and security."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.