The U.S. President Joe Biden and the leaders of the G7 (Canada, France, Germany, Italy, Japan and the United Kingdom, as well as the European Union) will announce new economic actions. The White House reports.
Each partner will implement actions consistent with their national processes.
As noted, these actions will collectively ramp up pressure on Putin and build on the unprecedented package of economic sanctions and export controls the United States and over 30 countries have already imposed on Russia.
Announcements by the President of the United States also include:
- President Biden will work closely with Congress to deny Russia the benefits of its WTO membership and ensure that Russian imports do not receive most favored nation treatment in economy.
- Full blocking sanctions on additional Russian elites and their family members. This includes Yuri Kovalchuk, executives of banks that have been sanctioned, and Duma members who sponsored legislation to recognize the so-called «Donetsk People’s Republic» and «Luhansk People’s Republic.»
- Ban export of luxury goods to Russia. President Biden will sign an Executive Order that will end the exportation of luxury items to any person located in the Russian Federation.
Situation in Ukraine remains complicated. Fighting continues. Russia started a special military operation on February 24, 2022. The number of military and civilian casualties continues to grow. Many states have imposed and continue to impose severe sanctions on Russia.
