Biden signs new Executive Order on new sanctions against Russia 

The US President Joe Biden will sign a new Executive Order (EO) that includes a prohibition on new investment in Russia by US persons wherever located, which will further isolate Russia from the global economy, Report informs, citing the Fact Sheet by the White House.

This action builds on the decision made by more than 600 multinational businesses to exit from Russia. The exodus of the private sector includes manufacturers, energy companies, large retailers, financial institutions, as well as other service providers such as law and consulting firms. The EO will ensure the enduring weakening of the Russian Federation’s global competitiveness.

This EO will prohibit any US person from transacting with major Russian state-owned enterprises and freeze any of their assets subject to US jurisdiction, thereby damaging the Kremlin’s ability to use these entities it depends on to enable and fund its war in Ukraine.