The United States, in conjunction with the G7 and the European Union, announced new sanctions against Moscow on Wednesday — which are results of attacks against civilians in Ukraine and target the adult daughters of Russian President Vladimir Putin.
The sanctions target Russian banks, Putin’s grown daughters, the wife and daughter of foreign minister Sergei Lavrov and members of the Russian Security Council.
“These individuals have enriched themselves at the expense of the Russian people,” the White House said in a statement. “Some of them are responsible for providing the support necessary to underpin Putin’s war on Ukraine.
“This action cuts them off from the U.S. financial system and freezes any assets they hold in the United States.”
According to the White House, the action freezes any of Sberbank’s and Alfa Bank’s assets touching the U.S. financial system. The new sanctions also prohibit people in the United States from doing business with them.
The White House statement Wednesday also said President Joe Biden will sign an executive order prohibiting new investment in the Russian Federation by Americans.
The new U.S. sanctions do not preclude payments on Russia’s sovereign debt at this time, as long as Russia uses funds outside U.S. jurisdiction, according to the White House. But that leaves Russia the choice of draining available funds to pay the debt or defaulting on the debt.