US introduces new sanctions against Russia

By Trend

Washington introduces new sanctions against Russia and will tighten them depending on Moscow’s actions towards Ukraine, US President Joe Biden said on Tuesday, Trend reports citing TASS.

"Today I’m announcing the first tranche of sanctions to impose cost on Russia in response to their actions yesterday. These have been closely coordinated with our allies and partners and we will continue to escalate sanctions if Russia escalates," Biden noted.

Washington imposes sanctions on Russia’s sovereign debt due to the situation around Ukraine, Biden said.

"We're implementing full blocking sanctions on two large Russian financial institutions VEB, and their Military Bank. We are implementing comprehensive sanctions on Russia’s sovereign debt. This means that we’ve cut off the Russian government from Western financing," the US leader noted.

According to Biden, these restrictive measures come into force on Tuesday. The sanctions on "Russian elites and their family members" will take effect on Wednesday and in the days.