US and allies to ban new investment in Russia

Among the measures to be announced on Wednesday against Russia are a ban on all new investments in that country, more effective sanctions on financial institutions and state-owned companies and sanctions on government officials and their families, according to a senior administration official. Biden, quoted by the AP, on condition of anonymity.

US President Joe Biden and US allies have been working together to impose economic sanctions on Russia for invading Ukraine more than a month ago, including freezing central bank assets, export controls and seizing properties, such as yachts, of the Russian elite.

However, calls for increased sanctions intensified this week in retaliation for attacks, killings and destruction in the Ukrainian city of Bucha.

The senior US official said the sanctions would increase Russia’s economic, financial and technological “isolation” from the rest of the world, in condemnation for its attacks on civilians in Ukraine.

This isolation is a key aspect of the US strategy, which is based on the idea that Russia will eventually need resources and equipment to continue fighting a protracted war on Ukrainian territory.

A Russia increasingly frustrated with Ukrainian resistance has used military tactics that have outraged much of the global community at large, leading to war crimes accusations and new sanctions.

Still, almost the entire EU has refrained from an outright ban on Russian oil and natural gas, which would likely wreck the country’s economy.

On Monday, Joe Biden called for his Russian counterpart, Vladimir Putin, to stand trial for war crimes over the atrocities and abuses in Bucha, in Kiev’s administrative region.

The corpses of what appear to be civilians were found strewn across the streets — many of them apparently dead at close range.

The US head of state also said that the US and its allies would gather details for a war crimes trial, stressing that Putin was “brutal” and his actions “outrageous”.

Russia launched a military offensive in Ukraine on February 24 that killed at least 1,480 civilians, including 165 children, and injured 2,195, including 266 minors, according to the latest UN data, which warns of the likelihood of the real number. of civilian casualties be much higher.

The war has already caused an undetermined number of military casualties and the flight of more than 11 million people, of which 4.2 million to neighboring countries.

This is the worst refugee crisis in Europe since World War II (1939-1945) and the United Nations estimates that around 13 million people are in need of humanitarian assistance.

The Russian invasion was condemned by the international community in general, which responded by sending weapons to Ukraine and reinforcing economic and political sanctions on Moscow.



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