Western Anger Over 'Civilian Massacre,' Will Putin's Daughter Also Face Sanctions?... Additional Sanctions on the 6th

[Asia Economy New York=Special Correspondent Joselgina] The United States and European Union (EU) allies, who have expressed outrage over the so-called 'Bucha civilian massacre' committed by Russian forces on Ukrainian soil, will unveil a new package of sanctions against Russia on the 6th (local time).

The plan includes blocking new investments in Russia, adding financial institutions and state-owned enterprises to a blacklist, and banning the EU's imports of Russian coal. Measures to directly sanction Russian President Vladimir Putin's two daughters are also reportedly under discussion. As the West intensifies Russia's isolation, the global economic order is being reshaped in the wake of the Ukraine crisis.

A senior U.S. government official stated on the 5th, "Together with the EU and the Group of Seven (G7) countries, we plan to announce an additional sanctions package against Russia." The new sanctions will include a ban on all new investments in Russia, strengthened sanctions on Russian financial institutions and state-owned enterprises, and sanctions targeting Russian government officials and their families.

The additional sanctions come as President Putin shows little sign of ending the war, following the recent discovery of bodies dressed as civilians and mass graves in the city of Bucha near Kyiv, Ukraine, believed to have been executed by Russian troops. White House spokesperson Jen Psaki said, "Partly in response to the Bucha massacre." The U.S. Treasury Department, after blocking the repayment of dollar debts on Russian government accounts within U.S. financial institutions the previous day, also targeted Russian darknet market sites and cryptocurrency exchanges in its sanctions on this day.

The EU also announced its fifth round of sanctions against Russia, including a ban on imports of Russian coal. This is the first sanction targeting Russia's energy sector. However, it must receive unanimous approval from all 27 member states before implementation. The EU's dependence on Russian coal exceeds 40%, with annual imports valued at approximately 4 billion euros (about 5.4 trillion won). Countries such as Germany, Poland, and the Netherlands are reported to have high dependence.

If the ban on Russian coal imports expands in the future, South Korea is also expected to seek alternative sources. Based on last year’s data, Russia accounted for 11% of South Korea’s coal imports.

Currently, Western allies are also discussing measures to sanction President Putin's two daughters. Bloomberg News assessed, "While the extent of their assets outside Russia is unclear, the significance lies in the 'symbolic' nature of the sanctions." Psaki did not comment on whether Putin's daughters are included in the sanctions.