President Joe Biden announced the U.S and its allies will be placing new sanctions on Russia due to the “atrocities in Bucha."
“I made clear that Russia would pay a severe and immediate price for its atrocities in Bucha. Today, along with our allies and partners, we’re announcing a new round of devastating sanctions,” Biden said April 6 on Twitter.
The U.S., along with the G7 and the European Union, “will continue to impose severe and immediate economic costs on the Putin regime for its atrocities in Ukraine, including in Bucha,” he said, according to an April 6 White House statement.
This includes the U.S. banning new economic investments in Russia, as well as imposing “severe financial sanctions” on Russia's largest national bank, Alfa Bank, as well as sanctions on Russian government officials and their families, Biden said in the statement.
The U.S. Treasury has prohibited Russia from repaying debts with U.S. jurisdiction funds. According to the statement released by the White House, this aims to force Russia into either making repayments with its available funds to make debt payments or default.
Biden said he will sign a new executive order prohibiting new Russian investments by any U.S. person wherever they are located. This builds on the decision made by more than 600 multinational businesses to remove themselves from Russia.
