US, Allies to Roll Out More Sanctions, Including Ban on New Investment in Russia

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Among the other measures being taken against Russia are greater sanctions on its financial institutions and state-owned enterprises, and sanctions on government officials and their family members.

President Joe Biden and U.S. allies have worked together to levy a crippling of economic penalties against Russia for invading Ukraine more than a month ago, including the freezing of central bank assets, export controls and the seizing of property, including yachts, that belong to Russia’s wealthy elite. But calls for increased sanctions intensified this week in response to the attacks, killings and destruction in the Ukrainian city of Bucha.

Psaki said the administration is assessing “additional consequences and steps we can put in place” but underscored that Biden is not weighing any military action. President Joe Biden invoked the Foreign Assistance Act of 1961 to use Department of Defense funds to help Ukraine forces fight Russia. On Monday, Biden called for his Russian counterpart, Vladimir Putin, to be tried for war crimes and face new sanctions because of the atrocities and abuses seen around Kyiv after Russian forces pulled back from the Ukrainian capital. The corpses of what appeared to be civilians were seen strewn in yards, many of them likely killed at close range.

 

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