The new sanctions include a ban on any new investment in Russia, as well as sanctions on Russia’s largest financial institution, Sberbank, and the country’s largest private bank, Alfa Bank. The target is the two adult daughters of Russian President Vladimir Putin, as well as the wife and daughter of Foreign Minister Sergei Lavrov. The sanctions were announced in consultation with the European Union and other G7 countries. Shortly before the Biden government announced the sanctions, Finance Minister Janet Yellen warned lawmakers of a significant impact on the world economy due to Russia’s invasion of Ukraine. In a statement to the parliament’s Financial Services Committee, Yellen said the Russian invasion was “an unacceptable insult to the rule-based world order and will have a huge economic impact on Ukraine and beyond.” He told lawmakers about a food cut for “millions of people around the world”. The United States and its allies have imposed multiple sanctions on Russia for its invasion of Ukraine, including the freezing of central bank assets and the seizure of assets belonging to people close to Putin. This week, calls for more sanctions have risen over the killings in the Ukrainian city of Bukha. Sanctions against Putin’s daughters cut them off from US financial system and freeze US assets US SPX shares fell -1.24% for a second day on Wednesday, with tech and other growth stocks falling as investors waited for expected details of the Federal Reserve’s plan to start shrinking its balance sheet. of nearly $ 9 trillion. See Now: Markets are eager to learn about the Fed’s plan to shrink its $ 9 trillion balance sheet. They should receive their wish today The Associated Press contributed to this story.
