The United States, the Group of Seven (G-7), and the European Union are coordinating to slap another round of severe sanctions on Russia, including an American ban on investment in Russia and a European Union ban on coal imports. The new round of sanctions came after discovering civilian bodies and other killings in Ukrainian towns, such as Bucha.
White House Press Secretary Jen Psaki said that all these governments decided to intensify the consequences on Russian state-owned enterprises and financial institutions. The recent round will also hit unspecified Kremlin officials and their family members, three members knowing the matter told NBC News. Psaki further said that these measures would damage key instruments of Russian state power and pose immediate and severe economic harm to Moscow.
The Biden government is scheduled to announce additional sanctions against the financial institutions of Russia, as well as Moscow officials, including their family members. The recent sweeping measures follow growing international accusations of Russian war crimes in Ukraine. pic.twitter.com/gfqi92X4uJ
— Live News Now (@LiveNewsNow6) April 6, 2022
It also holds accountable the Russian Kleptocracy that backs and supports Russian aggression in Ukraine. News of new measures follows fresh rounds of coordinated sanctions that vaulted Moscow past North Korea and Iran as the most-sanctioned country in the world. So, the actions damaged the Russian economy as Putin pushed ahead with the brutal attack on its neighbor.
Additionally, the United States media suggested that sanctions could target the Russian President’s two daughters. In coordination with the E.U. and G-7, Psaki added that another sweeping sanctions measure would impose severe consequences on Russia and send it further down financial, economic, and technological isolation.
E.U. ban of Imports of Russian Coal
The European Union Commission proposed wide-ranging new sanctions on Russia, including a likely ban on Russian coal imports and further measures to target state-owned officials and businesses and oligarchs in the Russian capital. The planned ban on Russian coal would mark the first time the European Union banned imports of Russian energy. The twenty-seven members of E.U. states buy around £3.3 billion (€4 billion) worth of coal from Russia yearly.
Some member states, such as Germany, are heavily dependent on Russian energy and unwilling to target the sector directly. However, sentiment appeared to change after discovering war crimes in Bucha, with French leader Emmanuel Macron also joining calls for a bar on the Russian energy sector. Member states also expected to slap a complete transaction ban on four Russian banks and ban on other Belarus and Russian imports like seafood, cement, liquor, and wood, worth £4.59 billion.
The European Commission President, Ursula von der Leyen, said that she plans to close European Union ports to Russian vessels and bar Belarusian and Russian road transport operators from the region. She accused Moscow of waging a ruthless and brutal war against civilians in Ukraine. She said that the E.U. must sustain extreme pressure on the Russian leader and his government at this critical point.
On Tuesday, Gabrielius Landsbergis, the Foreign Minister of Lithuania, criticized the recent suggested sanctions package, calling it a weak response which is an invitation for more killings. Ukrainian President Volodymyr Zelensky accused Vladimir Putin while addressing the United Nations Security Council of committing war crimes in Ukraine and called for them to be held accountable.