SBRCY - New U.S. sanctions against Russia include full Sberbank block Putin's adult children

In a new round of sanctions, the U.S. is imposing full blocking on Russia's largest financial institution, Sberbank (OTCPK:SBRCY) (OTCPK:AKSJF), and Alfa Bank, Russia's largest private bank and prohibits any new investment in the country, according to a White House statement made on Wednesday. The White House said that sanctions imposed by the U.S. and more than 30 allies will cause Russia's GDP to shrink up to 15% this year, "wiping out the last fifteen years of economic gains." The U.S. will also implement "full blocking sanctions on critical major Russian state-owned enterprises," prohibiting any U.S. person from doing business will these entities and freezing those entities' assets subject to U.S. jurisdiction. The U.S. Treasury is also prohibiting Russia from making debt payments with funds subject to U.S. jurisdiction. "Sanctions do not preclude payments on Russian sovereign debt at this time, provided Russia uses funds outside of U.S. jurisdiction," the statement

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New U.S. sanctions against Russia include full Sberbank block, Putin's adult children