• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Wednesday, February 1, 2023
Lubbock County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home News

US To Announce New Sanction Package On Russia On Wednesday – CNN

us-to-announce-new-sanction-package-on-russia-on-wednesday-–-cnn
Share on FacebookShare on Twitter

The official said the sweeping package “will impose significant costs on Russia and send it further down the road of economic, financial, and technological isolation.”

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 new packet of sanctions will be the latest move by the US and its allies aimed at pressuring the Kremlin and limiting its ability to wage war against Ukraine. They follow new revelations of further atrocities committed by Russian forces in northern Ukraine come to light, spurring the US and its allies to take further action against Moscow.

      “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 Putin’s war,” the official said. “These measures will be taken in lockstep with our allies and partners, demonstrating our resolve and unity in imposing unprecedented costs on Russia for its war against Ukraine.”

        The official added, “We had already concluded that Russia committed war crimes in Ukraine, and the information from Bucha appears to show further evidence of war crimes. And as the President said, we will work with the world to ensure there is full accountability for these crimes. One of those tools is sanctions — and we have been working intensively with our European allies on further sanctions.”

        The expected sanctions come after the US Treasury announced it will no longer allow Russia to pay down its debt using dollars stockpiled at American banks. While Washington had imposed sanctions on the Russian Central Bank freezing their foreign currency at US banks, the Treasury Department had previously allowed Russia to use those reserves to repay its debt.

          Since Russia’s invasion of Ukraine started at the end of February, the US and its allies have sanctioned hundreds of Russian elites and lawmakers, restricted the country’s access to Western technology important to its defense and technology sectors, frozen roughly half of Russia’s foreign reserves and cut off specific Russian banks from the SWIFT banking network, among other steps. The US has also banned the import of Russian oil, natural gas and other energy products.

          While the severity and swiftness of the Western sanctions against Russia have been unprecedented, key carve outs remain as US officials continue to monitor US and European supply chains and try to limit the impact of sanctions on Western economies that are grappling with record-high inflation levels.

            CNN reported late last week that Russia faces a deep recession and high inflation as sanctions push the country toward having an increasingly closed economy, a shift which US officials believe the Kremlin will struggle to make since it has long relied on the sale of raw materials to buy sophisticated equipment and consumer goods.

            This story has been updated with additional information.

            Lubbock County News Online

            © 2021 Lubbock County News Online

            Navigate Site

            • Disclosure
            • Privacy Policy
            • DMCA Policy
            • CCPA
            • Medical Disclaimer

            Follow Us

            No Result
            View All Result
            • Home
            • DMCA Policy
            • Medical Disclaimer
            • Privacy Policy
            • Disclosure
            • CCPA
            • Terms of Use

            © 2021 Lubbock County News Online

            We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
            Cookie SettingsAccept All
            Manage consent

            Privacy Overview

            This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
            Necessary
            Always Enabled
            Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
            CookieDurationDescription
            cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
            cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
            cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
            cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
            cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
            viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
            Functional
            Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
            Performance
            Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
            Analytics
            Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
            Advertisement
            Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
            Others
            Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
            SAVE & ACCEPT