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Biden and western allies hit Russian media and bank executives in new sanctions

President Joe Biden and the western allies released a set of sweeping new sanctions on Sunday that target Russian media and bank executives, the latest financial crackdown to come in the wake of Vladimir Putin’s invasion of the Ukraine and one day ahead of the Russian president’s ‘Victory Day’ holiday. 

The announcement came after Ukrainian President Volodymyr Zelensky joined Biden and G7 leaders in a virtual meeting.

During that meeting, G7 leaders agreed to follow the U.S. example and commit to phasing out or banning the import of Russian oil, the White House announced. The move will massively damage Putin’s ability to fund his war as energy is a main source of state revenue for Russia.

But it’s also unclear how long it will take to implement. G7 countries like Germany rely on Russia…


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