Biden's order gives officials powers to ban new investment in Russian economy

19:54, 11.03.2022 1 min read

New American investment in any sector of the Russian economy could be banned from now on.

On Friday United States President Joe Biden signed an executive order "prohibiting certain imports, exports, and new investment with respect to continued Russian Federation aggression." One clause bans U.S. residents "from new investment in any sector of the Russian Federation economy as may be determined by the Secretary of the Treasury."

Any such decision will be taken by the Treasury in consultation with the Secretary of State, the document said.