The U.S. is imposing new sanctions against Russia. The sanctions are aimed at causing significant economic damage to Russia. The decision to impose them was made after statements by U.S. officials about new evidence of Russian war crimes in Ukraine.
According to media reports, the new sanctions package will ban all new investment in Russia, increase sanctions on financial institutions and state-owned enterprises in Russia, and sanction Russian government officials and their family members.
The United States will block Russia’s ability to use frozen foreign currency accounts in U.S. banks to make payments on sovereign debt, as it was possible back in March.
“Russia does not have unlimited resources – especially now, given the crippling sanctions we’ve put in place – and they are going to be forced to choose between draining remaining valuable dollar reserves or new revenue coming in or default,” White House press secretary Jen Psaki said.
Thus, according to her, the Putin regime will soon deplete the resources and will not be able to continue the war in Ukraine. It will also lead to economic uncertainty and challenges to Russia’s financial system.