US Sanctions Russian Bank Execs, Bans Accounting Services

By Elise Hansen (May 9, 2022, 5:36 PM EDT) -- The White House and its allies have imposed new sanctions on Russia that will limit Russian residents' access to financial services and tighten export controls for industrial products and oil.

The Biden administration announced the latest round of sanctions Sunday. Many of the measures were joined by the so-called "Group of 7" U.S. allies consisting of Canada, France, Germany, Italy, Japan and the U.K.

All the countries committed to "phasing out or banning" Russian oil imports, the announcement said. The U.S. has already banned imports of Russian oil and gas, while the European Commission last week announced plans to phase out...

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