Administration

US to sanction Russian officials, ban new investment in Russia

The White House is poised to announce new sanctions on Russia this week that include a ban on new investments and sanctions on Russian government officials and their family members.  

The sanctions will also target Russian-owned financial institutions and state-owned enterprises, according to White House press secretary Jen Psaki, who said the sanctions were being coordinated with the Group of Seven and European Union.  

Psaki told reporters Tuesday that the sanctions are in response to recent killings in Bucha, a town near the Ukrainian capital of Kyiv, as well as other Russian acts of violence in Ukraine that the U.S. has said constitute war crimes.    

“We are continuing to assess and make decisions about additional consequences and steps we can put in place,” Psaki said during the White House briefing, indicating further penalties could be levied on Moscow in response to the carnage in Bucha.

The new sanctions are expected to be announced on Wednesday and come as little surprise after President Biden made clear earlier this week he would seek new sanctions following the horrific images of dead bodies of civilians in the streets of the city.  

Biden decried Russian President Vladimir Putin as a war criminal on Monday but did not go as far as Ukrainian President Volodymyr Zelensky in labeling the Bucha killings as “genocide.”  

The U.S. and its allies have imposed a raft of sanctions on Russia since Putin ordered the invasion of Ukraine at the end of February. These include sanctions on Russian banks, oligarchs and government officials, including Putin himself and some top Kremlin officials.  

The penalties have squeezed the Russian economy but thus far have not caused the Kremlin to pull back from Ukraine.  

Tags Biden administration Jen Psaki Joe Biden sanctions ukraine Vladimir Putin Volodymyr Zelensky white house

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File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)
File - A Chevrolet Bolt is displayed at the Philadelphia Auto Show, Jan. 27, 2023, in Philadelphia. Electric vehicles are far less reliable than gasoline-powered cars, trucks and SUVs, mainly because most automakers are still learning how to build a completely new power system, according to this year's auto reliability survey by Consumer Reports.(AP Photo/Matt Rourke, File)

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In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)
In this photo released by the Governor of Sevastopol, Mikhail Razvozhayev telegram channel, a rescuer gestures as he helps people during an evacuation after storm and flooding in Sevastopol, Crimea, Monday, Nov. 27, 2023. A storm in the Black Sea took down power grids and left almost half a million people without power after it flooded roads, ripped up trees and damaged buildings in Crimea, Russian state news agency Tass said. (Governor of Sevastopol Mikhail Razvozhayev's telegram channel via AP)

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