Biden Announces New Sanctions on Russia

President Biden announced that G7 leaders have agreed to impose new sanctions against Russia, including further measures on four financial institutions and sanctioning “Russian elites and their family members,” Axios reports.

Biden said the sanctions “are going to impose severe costs on the Russian economy both immediately and over time.”

He added: “We have purposely designed these sanctions to maximize a long-term impact on Russia and to minimize the impact on the United States and our allies.”