The Biden administration on Wednesday announced a wave of new sanctions targeting Russia’s two largest banks, Russian President Vladimir Putin’s daughters, the wife and daughter of Russia’s top diplomat and blacklisted members of Russia’s Security Council.
A senior administration official said the measures are being imposed in alignment with allies in the Group of Seven nations and the European Union and are in response to “the sickening brutality” recently discovered in the Kyiv suburb of Bucha following the retreat of Russian forces.
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The measures announced Wednesday impose full blocking sanctions on Russia’s largest state-owned bank, Sberbank, and its largest private bank, Alfa Bank, freezing any assets “touching” the U.S. financial system and prohibiting Americans from doing business with them.
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Alfa Bank is Russia’s largest privately-owned financial institution and its fourth-largest financial institution overall. The administration had sanctioned Sberbank on Feb. 24, the day Russia launched its invasion, blocking all U.S. business with the financial institution.
Sberbank is Russia’s largest bank, controls about a third of all bank assets in Russia and is majority-owned by the government.
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The administration imposed personal sanctions against two of Putin’s adult daughters, Maria Putina and Katerina Tikhonova and the wife and daughter on Russian Foreign Minister Sergey Lavrov.
The U.S. also imposed sanctions on former President and Prime Minister of Russia Dmitry Medvedev, who is a prominent voice supporting Putin’s invasion of Ukraine, and Prime Minister Mikhail Mishustin.
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Biden targets Putin’s daughters and Russian banks in new wave of sanctions https://t.co/NJzvNMLMV6 pic.twitter.com/G0lDdXirKk
— The Hill (@thehill) April 6, 2022
Russian patriots love Russia, unless it involves actually living in Russia and raising their children in Russia https://t.co/LzSSRBcgkn
— Tom Nichols (@RadioFreeTom) April 7, 2022
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