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With easy Russia sanctions used up, West faces tough economic choices

Easy Russia sanctions exhausted, US and allies face economic bite

Easy Russia sanctions exhausted, US and allies face economic bite
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BBCNEWS World Business Report June 4, 2024 04:32:00

and coordination with european allies and g7 members. on tuesday, the european union proposed a ban on all russian coal imports. it still needs the approval of all 27 members of the bloc s member states. it added that it was working on banning russian oil, as well. now, the new sanctions follow a change of course by the us treasury, which on monday said it would stop russia from making debt payments in dollars through american banks. the decision aimed at pushing moscow closer to default or, at the very least, forcing them to make other hard economic choices. up until now the us had allowed the russian government to pay investors using american banks. the sweeping measures follow global outrage over mounting evidence of russian war crimes in ukraine. russia has now surpassed iran and north korea as the most sanctioned country in the world. joining me now is daniel tannebaum, the global head of sanctions at management consulting firm oliver wyman. good to have you on the programme, dani

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