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US imposes new sanctions on Russia for its invasion of Ukraine

Russia Putin
Posted at 11:05 AM, Apr 06, 2022
and last updated 2022-04-06 14:01:48-04

The U.S. announced new sanctions against Russia on Wednesday for its invasion of Ukraine and the atrocities documented in the town of Bucha, where civilians have been found bound and murdered.

“The sense of brutality and inhumanity, left for all the world to see unapologetically," Biden said. "There’s nothing less happening than major war crimes.”

The sanctions target Russian President Vladimir Putin's adult children and family members of his inner circle.

"This action cuts them off from the U.S. financial system and freezes any assets they hold in the United States," the White House said in a statement.

Other sanctions include:

  • Blocking Russia's largest financial institution, Sberbank, and the country's largest private bank, Alfa Bank, from "touching the U.S financial system."
  • Prohibiting new investments in Russia
  • Blocking U.S. persons from working with Russian state-owned enterprises

The U.S. says it has been joined by more than 30 allies and partners in sanctioning Russia since the beginning of its invasion of Ukraine.

The sanctions are expected to wipe out the last 15 years of economic gains in Russia, according to the White House.