US sanctions target Putin's children, Russia's largest lender Sberbank
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Loading... - Ryan Taylor
- 07 Apr 2022
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The new sanctions will put full blocking sanctions on Russia's Sberbank, which holds one-third of Russia's total banking assets, and Alfabank, a senior U.S. official told reporters. Energy transactions are blocked from these sanctions, the official said.
The United States is also sanctioning Russian President Vladimir Putin's adult daughters, Russian Foreign Minister Sergey Lavrov's wife and daughter, and members of Russia's security council, the official said. Americans are banned from investing in Russia, the official said, including through venture capital or mergers.
The U.S. is "dramatically escalating" the financial shock on Russia by cutting off that country's largest banks, the official said. Russians may be forced back into Soviet-style living standards from the 1980s, the official said.
The U.S. Justice Department on Wednesday also announced new enforcement actions to disrupt and prosecute criminal Russian activity. Read More…
