For Bucha. The United States has imposed sanctions on Sberbank of Russia and the daughters of Putin and Lavrov
The United States has announced a new package of anti-Russian sanctions for the brutal killings of civilians in Ukraine.
– I made it clear that Russia would pay a severe and immediate price for its atrocities in Bucha. Today, along with our Allies and partners, we’re announcing a new round of devastating sanctions, – Joe Biden said on Twitter.
I made clear that Russia would pay a severe and immediate price for its atrocities in Bucha. Today, along with our Allies and partners, we’re announcing a new round of devastating sanctions. https://t.co/LVqTDIOSvz
— President Biden (@POTUS) April 6, 2022
The new package of sanctions against Russia includes blocking restrictions against Sberbank and Alfa-Bank. The latter now owns a third of all Russian banking assets.
The United States is also imposing sanctions on Vladimir Putin’s two daughters, Maria Vorontsova and Katerina Tikhonova, the wife and daughter of Russian Foreign Minister Sergei Lavrov and members of the Russian Security Council, Dmitry Medvedev and Mikhail Mishustin.
Americans have also been banned from investing in Russia, including venture agreements or mergers.
Complete blocking of Sberbank and Alfa-Bank
- This action will freeze any assets of Sberbank and Alfa-Bank related to the US financial system and prohibit US citizens from doing business with them.
- Oschadbank owns almost 1/3 of the total assets of the Russian banking sector and is systemically critical for the Russian economy. Alfa-Bank is the largest private financial institution in Russia and the fourth largest financial institution in Russia.
Prohibition of new investments in Russia
- Joe Biden will sign a new decree banning new investments in Russia by US citizens wherever they may be further isolating Russia from the global economy.
- his option is based on the decision of more than 600 multinational companies to leave Russia. Private sector output includes producers, energy companies, large retailers, financial institutions and other service providers such as law firms and consulting firms. This will ensure a steady weakening of Russia’s global competitiveness.
Sanctions against Russian elites and their families include:
- The adult children of President Putin, the wife and daughter of Foreign Minister Lavrov and members of Russia’s Security Council, including former Russian President and Prime Minister Dmitry Medvedev and Prime Minister Mikhail Mishustin. These individuals became rich at the expense of the Russian people.
- Some are responsible for providing the support needed to support Putin’s war against Ukraine. This action disconnects them from the US financial system and freezes all their assets in the US.
The US Treasury Department has banned Russia from paying its debts at the expense of funds under US jurisdiction.
At present sanctions do not prevent the payment of Russia’s sovereign debt if Russia uses funds outside US jurisdiction. However Russia is a global financial outcast and now it will have to choose between using available funds to pay off debt or default.
