The Biden administration will announce new sanctions Wednesday in coordination with G7 nations and the European Union in response to Russian forces committing war crimes in Ukraine. There will also be a ban on all new investment in Russia, reports quoting an administration official say.
The next round of US sanctions will target Russian government officials, their family members, Russian-owned financial institutions and state-owned enterprises, White House press secretary Jen Psaki said at a news conference.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.