US To Announce New Sanctions On Russia: Report

The United States will reportedly announce new sanctions on Russia Wednesday (April 6) in adherence with other members of the Group of Seven and the European Union, an administration official confirmed to CNN.

The official confirmed the new sanction package "will impose significant costs on Russia and send it further down the road of economic, financial, and technological isolation," banning all new investment in Russia, as well as increasing previous sanctions on financial institutions, state-owned enterprises within the country and Russian government officials and relatives.

"These measures will degrade key instruments of Russian state power, impose acute and immediate economic harm on Russia, and hold accountable the Russian kleptocracy that funds and supports Putin's war," the official said via CNN "These measures will be taken in lockstep with our allies and partners, demonstrating our resolve and unity in imposing unprecedented costs on Russia for its war against Ukraine."

"We had already concluded that Russia committed war crimes in Ukraine, and the information from Bucha appears to show further evidence of war crimes. And as the President said, we will work with the world to ensure there is full accountability for these crimes. One of those tools is sanctions -- and we have been working intensively with our European allies on further sanctions," the official added.

Last month, President Joe Biden announced a ban on all imports of Russian oil due to the ongoing conflict in Ukraine.

The decision followed several others attempts by the U.S. to increase pressure on the Russian economy amid the Ukrainian conflict.

"Today I am announcing the United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas and energy," President Biden said at White House on March 8 via CNN. "That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to Putin's war machine."

Russian President Vladimir Putin announced his country would conduct military operations in Eastern Ukraine during an NBC News translation of a speech addressing the Russian population prior to sunrise on February 24 in Moscow.

The announcement served as the final action ahead of an attack by Putin and the Russian military, which the U.S. and European allies to the neighboring Ukraine have attempted to prevent from taking place through diplomatic discussions.

A Ukraine interior minister confirmed to NBC News via text message that "cruise and ballistic missile strikes" were already underway shortly after Putin's announcement.

NBC News correspondent Erin McLaughlin said explosions could be heard from her live shot in Kyiv, Ukraine's capital city, at 6:00 a.m. local time.

More than 1,000 protesters were reportedly arrested during anti-war protests throughout Russia amid President Putin's announcement to conduct military operations and ensuing attack on Ukraine, BNO News reported.