Biden screamed that he would bring Putin to his knees with severe sanctions that would tear him down.
Like everything Joe does, the opposite happened, and officials inside the White House privately admit they’ve made everything worse.
Bloomberg News reported:
But the collateral damage from the sanctions has been wider than expected.
When the invasion began, the Biden administration believed that if penalties exempted food and energy, the impact on inflation at home would be minimal. Since then, energy and food have become key drivers of the highest US inflation rates in 40 years, a huge political liability for President Joe Biden and the Democratic party heading into November’s mid-term elections.
“As a result of these unprecedented sanctions, the ruble almost is immediately reduced to rubble,” President Joe Biden said while in Poland shortly after the invasion.
Now, the ruble is at a seven-year high.
More from Reuters:
The Russian rouble firmed more than 6% against the euro on Monday to a near seven-year high, boosted by capital controls, strong oil prices and an upcoming month-end tax period.
By 1338 GMT, the rouble had gained 6.3% to trade at 58.75 versus the euro , its strongest point since early June 2015.
It was 4.6% stronger against the dollar at 57.47, not far from 57.0750, its strongest mark since late March 2018, hit on Friday.
What’s even worse is experts are warning that Biden’s policies toward the Ukraine invasion are going to cause a food supply crisis and famine.
Bloomberg: White House officials privately admit “the collateral damage” from Russia sanctions “has been wider than expected”
— Saagar Enjeti (@esaagar) June 14, 2022
Instead of being a leader and negotiating peace between the two countries, Biden decided to prolong the war and sent Ukraine another $1 billion.
NEW: The White House announces that the U.S. will be providing Ukraine with another $1 billion in military assistance. pic.twitter.com/xfrQBPDInk
— Alex Salvi (@alexsalvinews) June 15, 2022