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U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs

U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs
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U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift And Severe Economic Costs - United States Acts In Tandem With Partners And Allies To Maximize Consequences For Russia, And In Show Of Unity Against Invasion Of A Sovereign State

<p><span>The United States took significant and unprecedented action to respond to Russia’s further invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system. The</span><b> </b><span>U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today imposed expansive economic measures, in partnership with allies and partners, that target the core infrastructure of the Russian financial system — including all of Russia’s largest financial institutions and the ability of state-owned and private entities to raise capital — and further bars Russia from the global financial system. The actions also target nearly 80 percent of all banking assets in Russia and will have a deep and long-lasting effect on the Russian economy and financial system.</span></p> ....

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Here are the Russian oligarchs targeted in Biden's new sanctions

The Russian elites targeted by Thursday s sanctions round are either from prominent families close to Putin himself, or powerful leaders in the country s financial sector, the administration said. ....

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