White House: US, allies to ban new investments in Russia

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White House: US, allies to ban new investments in Russia
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The United States and Western allies plan to pile additional sanctions on Russia after the emergence of troubling new evidence of war crimes in Ukraine. The new penalties will include a ban on all new investment in Russia.

WASHINGTON — The United States and Western allies plan to pile additional sanctions on Russia on Wednesday after the emergence of troubling new evidence of war crimes in Ukraine, according to the White House. The new penalties will include a ban on all new investment in Russia.

Separately, the Treasury Department moved Tuesday to block any Russian government debt payments with U.S. dollars from accounts at U.S. financial institutions, making it harder for Russia to meet its financial obligations. Psaki said the administration is assessing “additional consequences and steps we can put in place” but underscored that Biden is not weighing any military action.

On Monday, Biden called for his Russian counterpart, Vladimir Putin, to be tried for war crimes and face new sanctions because of the atrocities and abuses seen around Kyiv after Russian forces pulled back from the Ukrainian capital. The corpses of what appeared to be civilians were seen strewn in yards, many of them likely killed at close range.

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