U.S., other nations announce new actions against Russia

The White House announced a new round of international actions against Russia following the invasion of Ukraine.

New Actions: In a joint statement and fact sheet, the United States, Group of 7 nations, and European Union announced actions such as:

• Ensuring Russia cannot obtain financing from the International Monetary Fund and World Bank.

• Ensuring Russian individuals and entities targeted with sanctions cannot evade them using digital assets.

• Additional export and import restrictions.

Treasury Guidance: In a related action, Treasury’s Office of Foreign Assets Control issued a new round of sanctions targeting Russian officials and guidance on the use of digital assets to evade U.S. sanctions on Russia.

Central Bank Suspension: Separately, the Bank for International Settlements—the global collective of central banks—reportedly suspended Russia’s central bank.

ICBA Release: With global events raising concerns among some bank customers, ICBA issued a national news release reminding consumers that their FDIC-insured deposits are safe.

Custom Version: A customizable version of the release is available on ICBA’s Tell Your Story marketing and communications toolkit.