U.S. announces new sanctions on Putin's adult children, bans all new investments in Russia

The U.S. has imposed a fresh round of sanctions following accusations of war crimes in Bucha.
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Vladimir Putin in Moscow, Mar. 2, 2022
Vladimir Putin in Moscow, Mar. 2, 2022
(MIKHAIL KLIMENTYEV/Getty)

The U.S. will impose a fresh round of sanctions on Russia including ones on the adult children of Russian President Vladimir Putin, the White House said Wednesday.

The sanctions come amid picture and other first-hand accounts of citizens killed in Russia's invasion of Ukraine, and resulting assertions that Putin is a war criminal.

The U.S. and its allies in Europe have  imposed numerous sanctions on Russian since the invasion started about seven weeks ago including limiting imports and cutting the nation off from significant facets of the global financial system. 

On Monday, President Joe Biden said he would unfurl more sanctions after calling Putin a "war criminal" following reports of extremely violent attacks in Bucha, a suburb of capital city Kyiv. 

The U.S. will now prohibit any new investments inside Russia. This follows the announcement by several major U.S. corporations that they will withdraw or downsize their operations in Russia.

The wife and daughter of Russian Foreign Minister Sergei Lavrov and other members of Putin's inner circle – including former Russian President Dmitry Medvedev and Prime Minister Mikhail Mishustin – have also been targeted by the sanctions.

"These individuals have enriched themselves at the expense of the Russian people. Some of them are responsible for providing the support necessary to underpin Putin’s war on Ukraine," the White House said.

The U.S. will impose full blocking sanctions on the country's largest private bank, Alfa Bank, as well as Sberbank, the country's largest financial institution. 

European allies are also expected to announce new sanctions.