All news

Biden tells to impose full blocking sanctions on Russian Direct Investment Fund

According to the official, "sanctioning this entity will further curtail [Russian President Vladimir] Putin’s strategic ambitions to expand the instruments of war and repression"

WASHINGTON, February 27. /TASS/. US President Joe Biden tasked his administration with imposing ‘full blocking sanctions’ on the Russian Direct Investment Fund (RDIF), a senior US administration official said.

"Yesterday the President also directed the Secretary of the Treasury to impose full blocking sanctions on the Russian Direct Investment Fund in the coming days. This is a state owned financial entity that functions as a sovereign wealth fund and attracts capital <…> into the Russian economy, in high growth and high tech sectors," he said.

According to the official, "sanctioning this entity will further curtail [Russian President Vladimir] Putin’s strategic ambitions to expand the instruments of war and repression.".