By Andrea Shalal
WASHINGTON – The US and its allies will impose a brand new spherical of sweeping Russia-related sanctions on Wednesday, a supply aware of the deliberate announcement instructed Reuters.
The sanctions will ban all new investments in Russia, improve curbs on monetary establishments and state-owned enterprises in Russia, and goal Russian authorities officers and their households, the supply mentioned on Tuesday.
“Tomorrow, the U.S. will announce, in coordination with the G7 and EU, a further sweeping package deal of sanctions measures that may impose vital prices on Russia and ship it additional down the highway of financial, monetary, and technological isolation,” the supply mentioned.
The measures to be imposed Wednesday will “degrade key devices of Russian state energy, impose acute and quick financial hurt on Russia, and maintain accountable the Russian kleptocracy that funds and helps Putin’s warfare,” the supply mentioned.
The actions being teed up will probably be taken in “lockstep” with different Group of Seven superior economies and the European Union, the supply mentioned, demonstrating the West’s resolve and unity in imposing unprecedented prices on Russia for its warfare towards Ukraine.
The warfare and Western sanctions imposed in response are hitting the Russian economic system, with consultants forecasting a contraction of as a lot as 15%.
Russia says it launched a “particular navy operation” in Ukraine on Feb. 24 to demilitarize and “denazify” a rustic that President Vladimir Putin regards as an illegitimate state. The Kremlin’s place is rejected by Ukraine, a parliamentary democracy, and the West as a pretext for an unprovoked invasion.
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