US sanctioned Putin’s daughters and Russian banks

us sanctioned putins daughters and russian banks
us sanctioned putins daughters and russian banks

In reaction to what President Joe Biden called “grave war crimes” by Russian forces in Ukraine, the US imposed further sanctions on Russian banks and elites on Wednesday, including a prohibition on Americans investing in Russia.

According to US authorities, the latest sanctions target Russia’s Sberbank, which controls one-third of the country’s total banking assets, and Alfabank, the country’s fourth largest financial institution. However, they claimed that energy transactions were excluded from the new regulations.

Russian President Vladimir Putin’s two adult daughters, Russian Foreign Minister Sergei Lavrov’s wife and daughter, and top members of Russia’s security council are also sanctioned, according to the authorities.

“Nothing less than significant war crimes are taking place,” Biden stated in an address to labor leaders, alluding to the retaken Ukrainian village of Bucha, where people were found shot at close range.

“Responsible nations must band together to bring these criminals to justice,” he added. “And we’re going to keep boosting economic expenses and ratcheting up the misery for Putin with our allies and partners.”

Russia, which claims to have initiated a “special military operation” in Ukraine on February 24, denies targeting civilians and claims that the killings were faked by the West.

The two big banks’ assets “touching the US financial system” would be frozen as a result of Wednesday’s “full blocking measures,” according to the White House.

In the latest round of measures coordinated with the US and other Western allies to “starve Putin’s war machine,” Britain seized Sberbank’s assets and announced it will block Russian coal imports by the end of the year.

The new penalties, according to Sberbank and Alfabank, will have no substantial impact on their operations.

Biden was also expected to sign an executive order prohibiting “new investment in Russia by U.S. individuals wherever situated,” which would further isolate Russia from the global economy, according to the White House. Officials have stated that this will include a prohibition on venture financing and mergers.