(CNN) The US will announce new sanctions on Russia Wednesday in coordination with Group of 7 nations and the European Union, according to an administration official. The official said the sweeping package "will impose significant costs on Russia and send it further down the road of economic, financial, and technological isolation." The new sanctions package will ban all new investment in Russia, increase sanctions on financial institutions and state-owned enterprises in Russia, and sanction Russian government officials and their family members. The official added, "We had already concluded that Russia committed war crimes in Ukraine, and the information from Bucha appears to show further evidence of war crimes. Yet for all of the focus on the immediate impact on the sanctions, officials point to key pieces of their efforts as having the greatest effect as the conflict grows more protracted.

Source: CNN April 06, 2022 00:50 UTC