On Wednesday, the United States announced a total blockade of the two major Russian banks, intensifying the country's financial bloc in retaliation for the invasion of Ukraine and the recent massacres reported in that country.
“I made it clear that Russia would pay a severe and immediate price for its atrocities in Bucha. Today, together with our allies and partners, we are announcing a new round of devastating sanctions,” President Joe Biden said on Twitter
A senior government official explained in a call with journalists the “total blockade” of Sberbank and Alfa Bank, the country's largest financial institutions: the measures prohibit their assets from coming into contact with the US financial system and prevent Americans from doing business with both institutions.
In a statement, Sberbank replied that sanctions would not have a significant effect on its operations, having adapted to previous measures.
The Treasury Department also banned all new investments in the Russian Federation. This, he said, will “further isolate Russia from the world economy.”
“This measure is in addition to the decision taken by more than 600 multinational companies to leave Russia. The exodus from the private sector includes manufacturers, energy companies, large retailers, financial institutions and other service providers, such as law firms and consulting firms. Today's Executive Order will ensure the lasting weakening of the Russian Federation's global competitiveness,” they stressed.
For its part, the United Kingdom imposed a new round of sanctions on Russia, also targeting two banks and eliminating all Russian imports of oil and coal by the end of the year.
“Our latest wave of measures will end Russian energy imports from the UK and will sanction more people and companies, decimating (Vladimir) Putin's war machine,” Foreign Minister Liz Truss said in a statement.
In turn, the European Union is also preparing new measures. The European Commission's proposed ban on coal imports would be the first EU sanction targeting the lucrative Russian energy industry for its war in Ukraine.
EU Foreign Affairs Officer Josep Borrell said energy is key to Russian President Vladimir Putin's war coffers. “One billion euros is what we pay Putin every day for the energy he provides us with since the beginning of the war. We've given him 35 billion euros. Compare it to the billion we have given Ukraine in arms,” Borrell said.
After several European countries announced the expulsion of Russian diplomats, the European Commission proposed a fifth package of sanctions that includes a ban on coal imports and that could be adopted as soon as this Wednesday, once unanimously approved by the ambassadors of the 27 countries.
(With information from EFE, AFP, AP, Reuters)
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