"Responsible nations have to come together to hold these perpetrators accountable," Biden told a Washington crowd in April 2022. "We will keep raising the economic cost and ratchet up the pain for Putin and further increase Russia's economic isolation."
"It's easier for BlackRock to do things when people aren't thinking about it," Varlay said, adding that BlackRock "doesn't want to be anywhere on the radar."
Sanctions imposed on Russia under the Biden administration, following Russia's military action in Ukraine, have shaken the foundation of the U.S. dollar's global dominance.