US To Ban “All New Investment” In Russia Today In Latest Sanctions: Report


The supply predicted that Russia’s financial system would shrink by as a lot as 15% this 12 months.

Washington:

The United States, in coordination with the G7 and European Union, will ban “all” new investments in Russia on Wednesday in its newest spherical of sanctions, a supply stated.

The joint measures, in response to Russia’s invasion of Ukraine and alleged finishing up of atrocities, “will include a ban on all new investment in Russia, increased sanctions on financial institutions and state owned enterprises in Russia, and sanctions on Russian government officials and their family members,” the supply conversant in the sanctions informed AFP Tuesday.

Sources, who spoke on situation of anonymity, stated the newest punishment of Russia’s financial system has been triggered by alleged proof of executions and different atrocities dedicated towards civilians in areas just lately deserted by Russian troops within the Ukrainian city of Bucha.

“We had already concluded that Russia committed war crimes in Ukraine, and the information from Bucha appears to show further evidence of war crimes,” a supply stated.

The new sanctions “will impose significant costs on Russia and send it further down the road of economic, financial, and technological isolation,” the supply stated.

“These measures will degrade key instruments of Russian state power, impose acute and immediate economic harm on Russia, and hold accountable the Russian kleptocracy that funds and supports” the conflict.

The supply predicted that Russia’s financial system would shrink by as a lot as 15 % this 12 months.

“This economic collapse of Russia’s GDP will wipe out the past 15 years of economic gains in Russia,” the supply stated.

(Except for the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)



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