The latest move is partly in response to scenes in the Ukrainian city of Bukha, near Kyiv, where more than 300 bodies have been found, including some civilians with their hands tied behind their backs. The sanctions will also target Prime Minister Mikhail Misustin, the wife and children of Foreign Minister Sergei Lavrov and members of Russia’s Security Council, including Dmitry Medvedev, a former president and prime minister. The United States believes that many of the Russian leader’s assets are hidden from family members. Sanctions will cut all close members of Putin’s family from the US financial system and freeze American assets. Live Ukraine News: Big new Russian attack “possibly within days” – as new sanctions target Putin’s children The United States is also stepping up sanctions against Russian banks in retaliation for alleged war crimes in Ukraine. President Joe Biden, who is set to sign an executive order banning new investment in Russia, called the latest round of sanctions “catastrophic”. “I have made it clear that Russia will pay a serious and immediate price for its atrocities in Bucha,” Biden wrote on Twitter. The White House said in a statement: “The United States, through the G7 and the European Union, will continue to impose serious and immediate financial costs on the Putin regime over its atrocities in Ukraine, including Bucha. “We will document and share information about these atrocities and use all appropriate mechanisms to hold those responsible accountable. “As part of this effort, the United States is announcing catastrophic economic measures to ban new investment in Russia and impose tougher financial sanctions on Russia’s largest bank and several of its most critical state-owned enterprises, as well as Russian government officials and members of their family “. Image: Map of the Russian invasion of Ukraine The White House said that if Putin changed course in Ukraine, US sanctions could be slowed down and possibly reversed. The latest US action will freeze all assets of Sberbank and Alfa Bank that touch the US financial system and will prohibit anyone from America from doing business with them. The sweeping financial sanctions follow the West’s earlier move this week to cut off Russia’s frozen funds in the US to pay off debt. Sberbank owns almost a third of the total assets of the Russian banking sector and is systemically critical to the Russian economy. Alfa Bank is the largest privately owned financial institution in Russia and the fourth largest financial institution in Russia as a whole. Use the Chrome browser for a more accessible video player 0:44 The worst allegations of war crimes in Bucha The United Kingdom announces new sanctions against Russia The United Kingdom has also announced a significant increase in British sanctions on Russia. The fifth wave of British measures will cut off key sectors of the Russian economy and end its dependence on Russian energy. Announcing the package, Secretary of State Liz Tras said: “Today, we are stepping up our campaign to end Putin’s horrific war with some of the harshest sanctions ever.” “Our latest wave of measures will put an end to Russian energy imports from the United Kingdom and impose sanctions on even more individuals and businesses, decimating Putin’s war machine. “Together with our allies, we show the Russian elite that they can not wash their hands of the atrocities committed on Putin’s orders. We will not rest until Ukraine prevails.” Ukrainian President Volodymyr Zelenskyy said on Tuesday that the new sanctions “should be commensurate with the gravity of the occupiers’ war crimes.” “Now is a critical time, especially for Western leaders. And this is no longer about how our people will evaluate the new sanctions and what I will say about them,” he said. The Biden government added that “as long as Russia continues its brutal attack on Ukraine, we will be united with our allies and partners in imposing additional costs on Russia for its actions.” The key sanctions announced today include:
Freezing of assets against Sberbank and Credit Bank of Moscow. Complete ban on all new foreign investment in Russia. In 2020, the United Kingdom’s investment in Russia was worth more than 11 11 billion. By the end of 2022, the United Kingdom will end all dependence on Russian coal and oil and end its gas imports as soon as possible. From next week, the export of basic oil refining equipment and catalysts will also be banned, undermining Russia’s ability to produce and export oil – targeting not only the industry’s finances but also its potential as a whole. Action against key Russian strategic industries and state-owned enterprises – including a ban on imports of iron and steel products, which are a major source of revenue. Russia’s military ambitions are also being thwarted by new restrictions on its ability to acquire the UK’s world-renowned quantum and advanced materials technologies.
Image: Sky’s Mark Austin to interview Putin’s press secretary Dmitry Peshkov
