US threatens sanctions on banks that help fund Russia’s war machine

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President Joe Biden's administration says it will blacklist foreign financial institutions that support Russia’s military industrial complex. Photograph: Mandel Ngan / AFP via Getty Images The Biden administration will blacklist foreign financial institutions that support Russia’s military industrial complex as part of Washington’s efforts to starve Moscow’s war machine. An executive order to be issued on Friday will enable the US to place sanctions on financial institutions helping Russia secure the equipment and other goods it needs to keep fighting in Ukraine. Banks under sanctions would be denied access to the US financial system. “This announcement makes clear that those...