To increase challenges: US to target Russian investment in fresh sanctions
By Team Newsable | First Published Apr 6, 2022, 10:21 AM ISTThe latest sanctions would target Russian government officials, their families, and Russian-owned financial organisations, the White House stated.
The United States has stated that it will announce fresh sanctions against Russia that will target government officials, financial institutions, and state-owned enterprises later this week.
The White House spokesperson Jen Psaki on Tuesday, while briefing a press conference, stated that many reporters reported that they (US) would target the Russian government, their family members, Russian owned financial institutions, and also state-owned enterprises.
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Psaki added that the latest US sanctions intended to increase uncertainty and challenges to Russia's financial system in the midst of Moscow's "special military operation" in Ukraine.
Psaki stated in her brief that Russia does not have endless resources, especially now with the crippling sanctions the US has imposed, and they will be forced to choose between depleting their valued dollar reserves or revenue coming in or defaulting.
She added that the main purpose is to deplete Putin's resources to continue his war against Ukraine and certainly generate more uncertainty and challenges to their banking system.
She further explained how the US would no longer enable Russia to pay down its debt using dollars stockpiled at American banks, putting extra pressure on Moscow.
The objective of the move is to deplete Russia's financial resources, Psaki added.
She continued that the biggest part of their goal is to deplete the resources that Putin has to continue his war against Ukraine and obviously causing more uncertainty and challenges to their financial system, but it is forcing them to choose those options and also deplete the resources, making it more difficult for Moscow to continue fighting the war, she added.
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