US, allies target Putin's daughters

Washington: The US along with G-7 and the European Union have announced a series of additional sanctions targeting Russian President Vladimir Putin's two adult daughters, Foreign Minister Sergei Lavrov's wife and the other Russian elites and imposed full blocking sanctions on the country's largest banks – Sberbank and Alfa Bank – for what it called Kremlin's atrocities in Ukraine.

The United States, 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, the White House said. "We will document and share information on these atrocities and use all appropriate mechanisms to hold accountable those responsible.

As one part of this effort, the United States is announcing devastating economic measures to ban new investment in Russia, and impose the most severe financial sanctions on Russia's largest bank and several of its most critical state-owned enterprises and on Russian government officials and their family members," it said.

These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments. Importantly, these measures are designed to reinforce each other to generate intensifying impact over time, said the White House.