President Biden has issued a new executive order which will increase the forbiddance of American banks in dealing with Russian government debt. One of the main restrictions is going to disallow American institutions from directly buying any bonds from the country. However, these institutions will have the ability to buy these bonds second-hand. This order is in conjunction with the EU, Canada, Australia, and the UK.
Furthermore, ten Russian diplomats in America will be forced to leave the country. Some of the diplomats are being required to leave based off of the alleged bounties Russia was willing to pay other countries for killing American soldiers.
These restrictions were brought about mainly due to election interference, the bounties against American troops, the occupation of Crimea, and the attack on American counter-intellegence; which affected approximately one hundred private groups and over nine federal entities. President Biden invited Putin to meet in person sometime in the next few months to attempt to rectify the situation.
The executive order is also going to label six Russian companies as being complacent in Russia’s cybercrimes and over thirty people and groups for playing a role in election interference.
In addition, if Russia chooses to attack Ukraine, further sanctions will be imposed upon Russia and aid will be dispatched .
Past restrictions involved with Russian debt have already put a damper on the Russian economy and this order is likely to further the damage.
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