Investors, governments act on Russia’s escalation in Ukraine
AkademikerPension, Gentofte, Denmark, is halting some Russian investments as the situation with Ukraine escalates, the pension fund said in a statement Tuesday.
The evolving situation in Ukraine prompted several government moves. U.K. Prime Minister Boris Johnson informed Parliament Tuesday that sanctions will be imposed on five Russian banks and three high-net-wealth individuals. Mr. Johnson described it as “the first tranche” of sanctions. U.S. President Joe Biden announced Tuesday the U.S. is imposing sanctions targeting Russia’s sale of sovereign debt abroad and on the country’s “elites and their family members,” according to Bloomberg. In addition, he said he’s shifting American forces in Europe to help bolster Estonia, Latvia and Lithuania and warned more sanctions could be coming.
Also on Tuesday, European Commission and European Council officials announced they are considering a first round of sanctions on Russian banks and others financing military operations in Ukraine and will try to limit Russia’s access to European capital and financial markets.
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