Biden Administration Imposes New Sanctions On Russia Banking Institutions And Putin S Daughters

“Today we are dramatically escalating the financial shock by imposing full foreclosure sanctions on Russia’s largest financial institution, Sberbank, and its largest private bank, Alfa Bank,” a senior administration official told reporters. Sberbank owns almost a third of the total assets of the Russian banking sector, the official said, adding that the United States has now completely blocked “more than two-thirds of the Russian banking sector.”
Second, the senior official said: “In line with the G7 and the EU, we are announcing a ban on new investment in Russia.” This will be implemented by an executive decree signed by US President Joe Biden. The government is also imposing full sanctions on a number of Russian elites and their families, including Putin’s adult daughters Maria Putina and Katerina Tikhonova, Foreign Minister Sergei Lavrov’s wife and daughter, and members of the Russian Foreign Ministry Sergei Lavrov. including the former President and Prime Minister. of Russia Dmitry Medvedev and Prime Minister Mikhail Misustin. The United States has already imposed sanctions on more than 140 oligarchs and members of their families and more than 400 Russian government officials, the senior official said. The United States will also impose full embargo sanctions on critical large Russian state-owned enterprises, which will be announced by the Treasury Department on Thursday. The official also noted Tuesday’s announcement that the Treasury Department had prevented Russia from making debt payments in dollars stored in U.S. banks. The senior official noted the devastating impact of US measures on the Russian economy since its invasion of Ukraine. “Russia’s GDP is projected to shrink by double digits this year. It is not in the process of isolating itself as an outcast state. “The economic shock only this year is predicted by the IMF (International Monetary Fund) to eliminate the last 15 years of financial gains,” the official said. Pressed about the effectiveness of sanctions to end Putin’s war in Ukraine, the senior official sought to highlight the impact they have on life in Russia, saying Putin should ultimately hold his people accountable. “Even an authoritarian like Putin has a social contract with the Russian people. “He took away their freedom in exchange for promising stability and thus does not give them stability,” the official said. “The question is not really so much: What can we do and when will it work? I think it is: What is the final game here for Putin? What is he playing for? ” added the official. “This is clearly a failure for him and at some point he will have to acknowledge this reality.”

title: “Biden Administration Imposes New Sanctions On Russia Banking Institutions And Putin S Daughters " ShowToc: true date: “2022-12-10” author: “Carlos Boswell”

“Today we are dramatically escalating the financial shock by imposing full foreclosure sanctions on Russia’s largest financial institution, Sberbank, and its largest private bank, Alfa Bank,” a senior administration official told reporters. Sberbank owns almost a third of the total assets of the Russian banking sector, the official said, adding that the United States has now completely blocked “more than two-thirds of the Russian banking sector.”
Second, the senior official said: “In line with the G7 and the EU, we are announcing a ban on new investment in Russia.” This will be implemented by an executive decree signed by US President Joe Biden. The government is also imposing full sanctions on a number of Russian elites and their families, including Putin’s adult daughters Maria Putina and Katerina Tikhonova, Foreign Minister Sergei Lavrov’s wife and daughter, and members of the Russian Foreign Ministry Sergei Lavrov. including the former President and Prime Minister. of Russia Dmitry Medvedev and Prime Minister Mikhail Misustin. The United States has already imposed sanctions on more than 140 oligarchs and members of their families and more than 400 Russian government officials, the senior official said. The United States will also impose full embargo sanctions on critical large Russian state-owned enterprises, which will be announced by the Treasury Department on Thursday. The official also noted Tuesday’s announcement that the Treasury Department had prevented Russia from making debt payments in dollars stored in U.S. banks. The senior official noted the devastating impact of US measures on the Russian economy since its invasion of Ukraine. “Russia’s GDP is projected to shrink by double digits this year. It is not in the process of isolating itself as an outcast state. “The economic shock only this year is predicted by the IMF (International Monetary Fund) to eliminate the last 15 years of financial gains,” the official said. Pressed about the effectiveness of sanctions to end Putin’s war in Ukraine, the senior official sought to highlight the impact they have on life in Russia, saying Putin should ultimately hold his people accountable. “Even an authoritarian like Putin has a social contract with the Russian people. “He took away their freedom in exchange for promising stability and thus does not give them stability,” the official said. “The question is not really so much: What can we do and when will it work? I think it is: What is the final game here for Putin? What is he playing for? ” added the official. “This is clearly a failure for him and at some point he will have to acknowledge this reality.”