The US government announced new sanctions Wednesday targeting Russian banks and the two adult daughters of Russian President Vladimir Putin — warning the country should expect “Soviet-style living standards” if it doesn’t end its invasion of Ukraine.The White House said the US is imposing full blocking sanctions on Sberbank, which holds a third of all Russian bank assets, and Alfa-Bank, which is the country’s largest private bank.“The reality is, the country’s descending into economic and financial and psychological isolation, and at this rate will go back to Soviet-style living standards from the 1980s,” a Biden administration official told reporters on a background call.
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