WASHINGTON, D.C. – Representative Adam Smith (D-Wash.), Chairman of the House Armed Services Committee, today released the following statement after the United States, in coordination with other G7 countries and the European Union, imposed new, severe costs on Vladimir Putin and the Russian economy as part of their sustained, unified response to Putin’s unprovoked war in Ukraine.

“Banning investments in Russia and strengthening restrictions on Russia’s financial system — in coordination with our allies and partners — is the right move. Putin’s brutal war will not go unpunished. Harsh economic measures will deepen his challenges at home and make it harder for him to continue his unlawful aggression. With these measures, members of Putin’s own family and inner circle will also experience additional economic costs as a result of their complicity in his violence. The images we have seen coming from Bucha show just how little regard Vladimir Putin has for innocent human life and the rule of law. He must be held accountable. We must stand with the Ukrainian people, increase pressure on the Russian economy, and do so with our allies and partners in Europe and around the world.”