The US today announced economic measures to ban new investment in Russia and impose the most severe financial sanctions coordinated with the G7 and the EU against Russia's largest bank and several of its most important state-owned enterprises, as well as against Russian government officials and members of the their families. This is stated in a statement from the White House.

According to the statement, full blocking sanctions are imposed on Russian banks: Sberbank and Alfa-Bank, the most important large Russian state-owned enterprises, as well as a ban on new investments in Russia.

The White House also announced full blocking sanctions on the Russian elite and their families, including sanctions on the adult children of President Putin, the wife and daughter of Foreign Minister Lavrov, members of the Russian Security Council, including former Russian President and Prime Minister Dmitry Medvedev and Prime Minister Mikhail Mishustin.

The US Treasury has banned Russia from making debt payments from funds under US jurisdiction. Currently, sanctions do not prevent payments on Russian sovereign debt, provided that Russia uses funds outside the jurisdiction of the United States. However, Russia is a global financial pariah and will now have to choose between running out of available funds to make debt payments or defaulting, the White House said in a statement.