Treasury Department details US sanctions on Russia
The U.S. Treasury Department has released details of the new sanctions that President Joe Biden announced, including the specific elites who are sanctioned and more details about limits on Russian financial institutions.
A senior Biden administration official told reporters on an afternoon call that while "these are severe costs that we're imposing today," the U.S. was choosing to hold off with more severe sanctions as leverage to try to deter a wider-scale invasion of Ukraine.
The official also said "none of the sanctions are designed to disrupt the flow of energy to global markets" and noted the administration deliberately tried to make sure the pain was felt by Russia's economy, not by the U.S.

The Treasury Department release detailed that it was sanctioning five "Kremlin-connected elites" and two Russian state-owned financial institutions, as well as putting more restrictions on Russian sovereign debt.
The administration official said "sanctions are meant to serve a higher purpose," which they said was to "prevent a large scale invasion of Ukraine that involves the seizure of major cities including Kyiv" as well as "to prevent largescale human suffering" and "to prevent Putin from installing a puppet government that bends to his wishes and denies Ukraine the freedom to set its own course and choose its own destiny."
Asked by ABC News' Chief Washington Correspondent Jonathan Karl about sanctioning Putin, the official said that "all options remain on the table."
-ABC News' Ben Gittleson







