New sanctions by the US and its allies target Putin’s daughters and Russian banks

washington — In response, the US announced a new package of sanctions against Russia on Wednesday reported atrocities around the Ukrainian capital of Kyiv, which includes economic penalties against the adult children of Russian President Vladimir Putin and senior Russian security officials.

The additional sanctions, imposed in coordination with the Group of Seven and the European Union, are intended to impose “heavy and immediate economic costs” on Russia for its brutalities in Ukraine, the White House said.

“As long as Russia continues its brutal attack on Ukraine, we, together with our allies and partners, will continue to impose additional costs on Russia for its actions,” the White House said in an announcement of the sanctions.

The measures include a ban on all new investment in Russia, increased sanctions on Russia’s largest financial institutions and state-owned companies, including Sberbank and Alfa Bank, and sanctions on Russian government officials and their family members. Among those affected by the full lockdown sanctions are Putin’s two adult daughters, the wife and daughter of Russian Foreign Minister Sergei Lavrov, and members of Russia’s Security Council including former President and Prime Minister of Russia Dmitry Medvedev and Prime Minister Mikhail Mishustin.

The measures against Sberbank and Alfa Bank, Russia’s largest private bank, freeze all their assets touching a US financial institution and ban US citizens from doing business with the two banks. The unnamed sanctions against state-owned companies prohibit any US citizen from doing business with the entities.

As with previous economic measures for Russian financial institutions, there is a spin-off for energy.

The measures aim to “weaken key instruments of Russian state power” and quickly inflict economic damage on Russia, sources told CBS News on Tuesday.

President Biden told reporters at the White House Monday that he would do so seek further sanctions over Russia after Ukrainian President Volodymyr Zelenskyy visited Bucha, a town outside of Kyiv where Ukrainian officials said they discovered the bodies of civilians after Russian forces withdrew from the area.

“You saw what happened in Bucha. That justifies him – he’s a war criminal,” Mr Biden said of Russian President Vladimir Putin. “But we need to gather the information, we need to keep providing Ukraine with the weapons it needs to continue the fight, and we need to get all the details so that this can be an actual — a war process.” This guy is brutal and what is happening in Bucha is outrageous and everyone has seen it.”

White House National Security Advisor Jake Sullivan also told reporters at the White House that they expected more sanctions announcements “this week.”

In a virtual address to the United Nations Security Council on Tuesday, Zelenskyy detailed to the 15-member committee what he said were war crimes committed by the Russian forces that have invaded Ukraine, accusing them of deliberately killing adults and children and attempting to burn their bodies.

“Russian troops are deliberately destroying Ukrainian cities with artillery and air strikes. They deliberately blockade cities and cause mass starvation. They deliberately shoot at columns of civilians in the streets trying to escape hostilities. They even intentionally blow up shelters where civilians are hiding, during airstrikes,” said Zelenskyy.

While Russia has dismissed the shocking scenes as “fake” has CBS News witnessed firsthand clear evidence of atrocities in the towns and villages around Kyiv. In the streets of Bucha, bodies were found littering the streets while dozens more were thrown into mass graves.

The devastation left in its wake by Putin’s troops has prompted fresh calls for tougher sanctions against Russia, including a complete halt to oil and gas imports. Germany and France have already expelled dozens of diplomats from the country for allegedly being spies.

Since Russia launched its attacks on Ukraine in late February, the US and its European allies have joined forces to impose coordinated sanctions aimed at cutting Russia off from the global economy.

According to an analysis by the Institute for International Finance, Russia’s economy is projected to contract by 15% or more in 2022, a collapse in Russia’s GDP that will wipe out economic growth over the past 15 years.

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