The 'strangling' comment is in regards of the local Russian market.

This whole speech was debating the return of Western companies who left Russia in response to the all for sanctions. Some didn't leave, and didn't lose their businesses. But some did. Russia did not force those companies to leave, they did so at the orders from Ursula, or Bai-den.

In any case, this opened the market for locals to jump into the gap. Those businessmen are now worried that if the Westerner companies return, that they will be squeezed, fiscally.

So We must put them in a chokehold is not a military comment.