U.S. official: U.S., allies, to ban new investments in Russia
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WASHINGTON (AP) — The United States, in coordination with the EU and Group of 7 nations, will roll out new sanctions against Russia on Wednesday — including an investment freeze — in response to evidence of war crimes in Ukraine, according to a senior administration official.
Among the measures being taken against Russia are a ban on all new investment in that country, greater sanctions on its financial institutions and state-owned enterprises, and sanctions on government officials and their family members. The official insisted on anonymity to discuss the forthcoming announcement.
President Joe Biden and U.S. allies have worked together to levy a crippling of economic penalties against Russia for invading Ukraine more than a month ago, including the freezing of central bank assets, export controls and the seizing of property, including yachts, that belong to Russia’s wealthy elite. But calls for increased sanctions intensified this week in response to the attacks, killings and destruction in the Ukrainian city of Bucha.
The official said the sanctions would further Russia’s economic, financial and technological “isolation” from the rest of the world as a penalty for its attacks on civilians in Ukraine.
