US Slaps Fresh Sanctions On Putin's Daughter, Top Russian Banks Over Moscow's 'War Crime' In Ukraine

The move seeks to remove Sberbank and Alfa-Bank from the US financial system as well as bar US citizens from doing business with these institutions.

Russian President Vladimir Putin (getty photo)

New Delhi: In a new round of sanctions targeting Russian financial institutions, the United States with the G7 and the European Union on Wednesday announced sanctions on the largest financial institution, Sberbank, and the largest private bank, Alfa-Bank for its atrocities in Ukraine, said a senior U.S. administration official as quoted by news agency ANI. 

"The sanctions will not have a significant impact on the bank's operations and will not affect service to Russians as the system has already adapted to the previous restrictions," Sberbank said in a statement.

White House: US, G7 & EU impose severe and immediate costs on Russia for its atrocities in Ukraine, including in Bucha. They include sanctions on Russia’s largest financial institution, Sberbank, and Russia’s largest private bank, Alfa Bank. Prohibiting new investment in Russia pic.twitter.com/Cg9xyl0KbW

— ANI (@ANI) April 6, 2022

The move seeks to remove Sberbank and Alfa-Bank from the US financial system as well as bar US citizens from doing business with these institutions.

In addition to sanctions imposed on Putin's adult daughters Maria Putina and Katerina Tikhonova, the US has also targeted Prime Minister Mikhail Mishustin. It also includes the wife and children of Russian Foreign Minister Sergei Lavrov and former President, Prime Minister and member of Russia's Security Council Dmitry Medvedev. All close members of Putin's family have been cut off from the US financial system. 

"There have been 8,257 sanctions imposed against Russia. Previously we feared that, but now - working as usual," Alfa Bank said in a statement in its channel on the Telegram messaging service.

Russia is being accused of committing genocide and war crimes in Ukraine. Meanwhile, Russian President Vladimir Putin has reacted to this matter. Putin has blamed Ukrainian officials for "brutal and cynical provocations" in Bucha.

Meanwhile, Russia has denied responsibility for the Bucha atrocities.

“As one part of this effort, the United States is announcing devastating economic measures to ban new investment in Russia and impose the most severe financial sanctions on Sberbank, Russia’s largest bank and several of its most critical state-owned enterprises and on the Russian government officials and their family members,” the US said Wednesday.