UkraineRussia War, “the United States, the G7 and the European Union will impose immediate and heavy economic costs on the Putin regime for his atrocities in Ukraine, including Bucha”. We read this in a statement announcing “devastating economic measures to ban new investments in Russia and the heaviest financial sanctions against major Russian banks, several key stateowned companies and Russian officials impose and their families.
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“As long as Russia continues its brutal aggression against Ukraine the statement goes on we will remain united with our allies to impose new costs on Russia for its actions.” Russia’s largest private bank, Alfa Bank, prohibiting American citizens from doing business with them.
With an executive order, Joe Biden then bans “new investments in Russia to further isolate it economically, the White House adds, recalling that over 600 multinationals have already left the country. But the most spectacular measure is the one affecting Putin’s adult daughters, the wife and daughter of Foreign Minister Lavrov, along with former President and Security Council member of Russia Dmitry Medvedev and Prime Minister Mikhail Mishustin. “These people got rich at the expense of the Russian people,” the White House said.
Likewise The British government has announced a new package of sanctions against Russia following reports of “heinous attacks on civilians” in Ukraine. The UK will halt all imports of coal and oil from Russia by the end of 2022, Sky News reports. Sberbank’s activities will also be frozen and new investments in Russia will be banned.
According to a statement from the Federal Foreign Office, the fifth sanctions package is intended to “starve out Putin’s war machine.” In addition to the firm ban on coal and oil, the UK has announced that it will end gas imports “as soon as possible. “This will be another blow to the Russian economy and further limit its future capabilities,” added the Foreign Office, which also sanctioned eight other Russian oligarchs.