The US President is confident that the new restrictions will increase the sanctions pressure on Russian President Vladimir Putin and further isolate the Russian financial system from the global economy.
On March 11, American leader Joe Biden imposed another package of sanctions against Russia.
According to the signed decree, the export, re-export, sale or delivery, directly or indirectly, from the USA or by a natural person/legal entity of the USA, regardless of the location of dollar banknotes, to the government of the Russian Federation or to any natural person/legal entity located in Russia, are now banned.
Also, the import of seafood, alcoholic beverages, especially Russian vodka, as well as diamonds and luxury goods, including cars, expensive clothes and jewelry, from Russia to the United States were also restricted.
The export of luxury goods from the United States to Russia has also been banned.
Biden added that the signed decree will also allow to impose restrictions on investments in any sector of the Russian economy in the future.
Also, according to the head of the White House, the G7 countries will cancel the favored nation regime in trade with Russia and deprive the Russian Federation of the opportunity to borrow from the World Bank and the IMF.
US residents are also prohibited from investing in any sector of the Russian economy.
The heads of banks from the sanctions list will fall under severe sanctions, their assets will be frozen in the United States, and the heads will be banned from entering the States.
State Duma deputies who expressed support for the Russian military operation in Ukraine and the recognition of the LPR and DPR will also be sanctioned with a ban on entry to the United States.
But Russian oligarchs from the sanctions lists will be more actively confiscating assets in the United States.
It is noteworthy that earlier the White House announced the rejection of purchases of oil, gas and coal in Russia.
Earlier it became known that the EU also banned the sale and import of euro banknotes to Russia.
Any individuals and legal entities on the territory of Russia, organizations, as well as Russian government agencies, including the government and the Central Bank of the Russian Federation, were banned.
The restrictions will come into force on March 12.