Britain and the United States targeted Russian banks on Thursday as part of a new package of sanctions following Moscow's invasion of Ukraine.
. Also on the list of sanctions are Otkritie, Sovcombank and Novikombank and some senior executives at state-owned banks.
Officials in Washington also wielded the U.S. government's most powerful sanctioning tool, adding VTB, Otkritie, Novikombank and Sovcombank to the Specially Designated Nationals list. The move effectively kicks the banks out of the U.S. financial system, bans their trade with Americans, and freezes their U.S. assets.The U.S. sanctions also target two Belarusian state-owned banks -- Belinvestbank and Bank Dabrabyt -- over that country's support for Moscow's attack.
More than 100 individuals, entities and subsidiaries will ultimately be sanctioned, the government said. European foreign ministers earlier in the week agreed to sanction 27 individuals and entities, including banks financing Russian decision-makers and operations in the breakaway territories in Ukraine, but not the biggest lenders.The United States had also ramped up prohibitions on Russian sovereign debt, which U.S. President Joe Biden said would cut the Russian government off from Western financing.
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