New sanctions by the US and its allies target Putin’s daughters and Russian banks

New sanctions by the US and its allies target Putin's daughters and Russian banks

Washington- The United States on Wednesday announced a new package of sanctions against Russia in response to reported atrocities around kyiv, the capital of Ukraine, which includes economic sanctions on the adult children of Russian President Vladimir Putin and on top Russian security officials.

The additional sanctions were implemented in coordination with the Group of 7 and the European Union and are designed to impose “severe and immediate economic costs” on Russia for its brutalities in Ukraine, the White House said.

“As Russia continues its brutal assault on Ukraine, we will stand united with our allies and partners to impose additional costs on Russia for its actions,” the White House said in a sanctions announcement.

The measures include a ban on all new investments in Russia, increased sanctions on Russia’s largest financial institutions and state-owned companies, including Sberbank and Alfa Bank, and sanctions on Russian government officials and their relatives. The targets of the full blockade sanctions include Putin’s two adult daughters, the wife and daughter of Russian Foreign Minister Sergei Lavrov, and members of the Russian Security Council, including the former President and Prime Minister of Russia. Russia, Dmitry Medvedev, and Prime Minister, Mikhail Mishustin.

The actions against Sberbank and Alfa Bank, Russia’s largest private bank, freeze any of their assets in contact with a US financial institution and prohibit US citizens from doing business with the two banks. The sanctions on the state-owned companies, which are yet to be named, prohibit any US citizen from doing business with the entities.

As with previous economic measures on Russian financial institutions, there is an exception for energy.

The moves are intended to “degrade key instruments of Russian state power” and inflict rapid economic damage on Russia, sources told CBS News on Tuesday.

President Biden told reporters at the White House on Monday that seek additional sanctions over Russia after Ukrainian President Volodymyr Zelenskyy visited Bucha, a town outside kyiv, where Ukrainian officials said they discovered the bodies of civilians after Russian forces withdrew from the area.

“You saw what happened in Bucha. This justifies him: he is a war criminal,” Biden said of Russian President Vladimir Putin. “But we have to collect the information, we have to continue to provide Ukraine with the weapons they need to continue the fight, and we have to get all the details so that this can be a real wartime trial. This guy is brutal.” , and what is happening in Bucha is scandalous, and the whole world has seen it”.

White House national security adviser Jake Sullivan also told reporters at the White House to expect more sanctions announcements “this week.”

In a virtual address to the United Nations Security Council on Tuesday, Zelenskyy detailed to the body of 15 members what he said was war crimes committed by the Russian forces that have invaded Ukraine, accusing them of deliberately killing adults and children, and trying to burn their bodies.

“Russian troops are deliberately destroying Ukrainian cities to ashes with artillery and air strikes. They are deliberately blockading cities, causing mass starvation. They are deliberately shooting at columns of civilians on the road trying to escape hostilities. They are even deliberately blowing up the shelters where civilians hide. air strikes,” Zelenskyy said.

While Russia has discarded the shocking scenes as “fake,” CBS News has witnessed first hand clear evidence of the atrocities in the cities and towns around kyiv. In the streets of Bucha, bodies were found in the streets, while many more were dumped in mass graves.

The devastation left behind by Putin’s troops has prompted new calls for tougher sanctions against Russia, including a complete cut off of oil and gas imports. Germany and France have already expelled dozens of diplomats, suggesting they were spies.

Since Russia launched its attacks on Ukraine in late February, the US and its European allies have come together to launch coordinated sanctions aimed at isolating Russia from the global economy.

Russia’s economy is forecast to contract by 15% or more in 2022, a collapse of Russia’s GDP that will erase the past 15 years of economic growth, according to analysis by the Institute of International Finance.

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