US wants to ban new investments in Russia | News Current

Washington – As part of new sanctions against Moscow, the US government wants to ban “all new investment” in Russia.

In addition, existing sanctions against Russian banks and state-owned companies will be tightened and other Russian leadership and their relatives will be punished, US President Joe Biden’s spokeswoman Jen Psaki said. The sanctions would be introduced in close coordination with partners in Europe and the other countries of the G7 group.

The United States and its allies had announced new sanctions after learning of the atrocities in the Ukrainian Bucha. Details are expected to be announced on Wednesday.

Aimed at “Russian kleptocracy”

The ban on new investment and additional sanctions mentioned by Psaki are aimed at further weakening the Russian economy. “These measures will weaken key tools of Russian state power and cause urgent and immediate economic damage,” Psaki said. Targeted sanctions would hold “Russian kleptocracy,” meaning supporters of President Vladimir Putin, to account, Psaki said.

The United States, the EU, Britain and other allies have already imposed numerous sanctions on Moscow over Russia’s war of aggression in Ukraine. So far, the targets of the measures have included Russia’s financial system, the tech sector, and politicians and oligarchs who are seen as supporters of Putin.

Vince Fernandez

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