Outgoing US President Joe Biden stated Friday that the United States imposed severe sanctions on Russia, focusing on its energy sector, in order to support Ukraine in defending its independence and opposing Moscow.

The Biden Administration imposed sanctions on several companies and other entities on Friday that were assisting Russia in its energy exports, particularly gas, ten days before handing the reins over to Donald Trump. Two of those companies originated in India. Sanctions are being imposed today as they will significantly impact the growth of the Russian economy and make it harder for Putin to carry out his wars. "It is probable that gas prices could increase as much as $0.03 to $0.04 a gallon, but that's going to have a more profound impact on Russia's ability to continue to act in the way it's acting in the conduct of war,” Biden said in response to a question.

“I already decided that Putin's in tough shape right now. I think it's really important that he does not have any breathing room to continue to do the God-awful things he's continuing to do. As I said, he's got his own problems economically, significant problems economically as well as politically at home,” Biden told reporters at a White House news conference. “So I decided to do everything I possibly could within my power and authority to give Ukraine every advantage it could have to be able to sustain support for an independent Ukraine,” he added, highlighting the reason for the last-minute sanctions against Russia. Biden mentioned that he had an extended conversation with Ukrainian President Volodymyr Zelenskyy.

“I think that as long as we continue to keep Western Europe united as relates to Ukraine, then there is a real chance that the Ukrainians can prevail because the cost to Russia is incredibly high. Over 600,000 and some dead or wounded, the Koreans they brought in are having high mortality rates as well, Biden said. “I made it clear that I provided every bit of funding with the authority I have as president to be able to do that now. And I know that there are a significant number of Democrats and Republicans on the Hill who think we should continue to support Ukraine. It is my hope and expectation that they will speak up and not agree with the president if Trump decides to cut off funding from Ukraine,” he further said.

On Friday, the Biden administration, before leaving office, imposed sanctions on two Indian companies. These companies were accused of breaking U.S. sanctions on Russia by participating in the transport of LNG (liquefied natural gas) from the country involved in the ongoing conflict. The two Indian companies, Skyhart Management Services and Avision Management Services have faced sanctions. They are included in the latest list of individuals and companies penalized for breaching Russian sanctions.