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Sberbank, Alfa Bank Targeted in Fresh Round of Full Blocking Sanctions

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Alfa Bank logo on the facade of the buildinп

The US will impose new sanctions on Russia, including penalties on two of its largest banks and President Vladimir Putin’s daughters, after allegations of war crimes in Ukraine.

Source: Bloomberg

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Full blocking sanctions will be imposed on Sberbank, Russia’s largest bank, and Alfa Bank, the nation’s largest private bank. All US entities will be prohibited from transactions with them.

Putin’s daughters, Mariya Putina and Katerina Tikhonova, together with Russian Foreign Minister Sergei Lavrov’s wife and daughter and members of Russia’s national security council, will be part of the new sanctions as the US and its allies crackdown on people close to the Russian president.

The US claims Putin and his allies hide wealth with family members on condition of anonymity.

President Joe Biden is set to sign an order that bans new investment in Russia by U.S. persons and entities. Other state-owned enterprises subjected to full-blocking sanctions include United Aircraft Corporation and United Shipbuilding Corporation.

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