The key takeaways

US confirms that Russian flights will not be allowed to use US airspace.

We are restricting Russia's technology access, which will reduce its economic power and weaken its military over the coming years.

Putin is now more isolated from the rest of the world than ever before.

We are removing Russia's biggest banks from the international financial systems.

The Russian central bank was unable to defend the Russian ruble and this rendered Putin's $630 billion war fund' worthless.

His highest priority is to keep prices under control.

In coordination with allies, the US will extract 60 billion barrels from its oil reserves.

We are ready to do more, if needed. We stand united with our allies. These steps will reduce gas prices at home.