Russia’s Sberbank and VTB would face sanctions if invasion proceeds, U.S. official says

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FILE PHOTO: St. Petersburg International Economic Forum (SPIEF)

WASHINGTON – Russia’s Sberbank and VTB would face American sanctions if Moscow proceeds with its invasion of Ukraine, a senior U.S. administration official told reporters on Tuesday, warning that no Russian financial institutions were safe.

The official also said Russian elites not sanctioned on Tuesday should be on notice, while noting that the Biden administration was fully prepared with a large number of countries to implement export control measures if Russia further invades.

(Reporting by Alexandra Alper, Trevor Hunnicutt and Kanishka Singh; editing by Jonathan Oatis)

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