US Prohibits Investments in Russia and Imposes Sanctions on Putin's Daughters

The US, along with G7 and EU partners, is imposing new sanctions against Russian President Vladimir Putin's daughters, major Russian banks including Alfa-Bank and Sberbank, and is banning all new investments in Russia. This was announced in a statement posted on the White House website, as reported by epravda.com.ua.

Sberbank is the largest financial institution in Russia, owned by the government, while Alfa-Bank is the largest private bank. The sanctions will freeze any assets tied to the US financial system and prohibit US citizens from doing business with them.

Additionally, the states will impose a complete ban on new investments in the Russian Federation. To this end, US President Joe Biden will sign a new executive order that includes a prohibition on new investments in Russia by US citizens, regardless of their location.

“This move is based on the decision of more than 600 multinational companies that are leaving Russia. The private sector's exit includes manufacturers, energy companies, major retailers, financial institutions, and service providers such as law firms and consulting agencies,” the White House stated.