The US is taking additional actions to increase economic pressure on Russia and President Vladimir Putin following horrific images from the Ukrainian city of Bucha, announcing new sanctions Wednesday on Russian financial institutions, as well as some people, including Putin’s adult daughters and the wife and daughter of his foreign minister, APA reports citing CNN.
“Today we’re dramatically escalating the financial shock by imposing full blocking sanctions on Russia’s largest financial institution, Sberbank, and its largest private bank, Alfa Bank,” a senior administration official briefing reporters said.
Sberbank holds nearly one-third of Russia’s total banking sector assets, the official noted, adding that the US has now fully blocked “more than two-thirds of the Russian banking sector.”
Second, the senior official announced, “In alignment with the G7 and the EU, we’re announcing a ban on new investment in Russia.” That will be implemented with an executive order signed by US President Joe Biden.
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