“Key people” will also face “massive sanctions,” a top Commerce official said in a separate speech on Friday.
Harrell, who sits on the National Security Council, said the United States was prepared, immediately after an invasion of Ukraine, to impose “crippling financial costs on major Russian financial institutions as well as to impose a range of quite sweeping export controls that will degrade Russian industrial capacity over the mid and long term.”
Harrell said he hoped the hundreds of hours he and his colleagues had spent over the last couple of months developing measures would never see the light of day, but that they are prepared to impose the sweeping measures. Harrell did not detail the sectors, but other White House officials have mentioned aviation, maritime, robotics, artificial intelligence, quantum computing and defence.
“We and our allies have a full range of high-impact sanctions and export controls ready to go, both immediately after a Russian invasion and in waves to follow,” Horne said.
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