Treasury announces additional Russia sanctions

Treasury’s Office of Foreign Assets Control announced additional sanctions on Russia’s largest banks and individuals connected to top Russian officials.

Sanctions: The latest sanctions target Sberbank and Alfa-Bank, family of Russian President Vladimir Putin and Foreign Minster Sergey Lavrov, and Russian Security Council members.

Executive Order: President Joe Biden separately announced a new executive order banning new investments and certain services in Russia.

ICBA Release: With global events raising concerns among some bank customers, ICBA offers a customizable news release on its Tell Your Story toolkit reminding consumers that their FDIC-insured deposits are safe.