The U.S. will announce new sanctions against Russia on Wednesday that target government officials and their family members, the White House said, describing the action as coordinated with allies.
The new sanctions, which come amid a rising death toll in Ukraine and allegations of war crimes against civilians, will also hit Russian-owned financial institutions and state-owned enterprises, and will include a ban on all new investment in Russia.
The European Union and Group of Seven nations also are announcing new sanctions on Moscow.
White House press secretary Jen Psaki said the Biden administration wants to shore up military assistance and equipment, in addition to increasing sanctions.
“Sanctions are just one component of the tools we have at our disposal,” Ms. Psaki said on Tuesday.
The new sanctions will come after the Treasury Department announced it would no longer let Russia pay down its debt using stockpiled dollars at U.S. banks, increasing the risk of default.
After about a month of war, at least 1,100 civilians have been killed in Ukraine, according to the United Nations.
Images of dead civilians that surfaced out of Ukrainian towns like Bucha have prompted Ukraine President Volodymyr Zelenskyy to declare Russian actions as war crimes and genocide.
President Biden has called Russian President Vladimir Putin a “war criminal” who must be brought to trial.
Russia has disputed the images of war coming out of towns such as Bucha, calling them fabricated.