White House: US issuing sanctions on Russia in response to election interference

In a statement published on Thursday, the White House announced that the US will be issuing sanction on Russia in response to Moscow's election interference, activities targeting dissidents and malicious cyber activities, as reported by Reuters.

Additional takeaways

"The US will defend our national interests, impose costs for Russian government actions to harm the US."

"The US will prohibit US financial institutions from buying primary market Russian government bonds issued after June 14, 2021."

"US sanctions 32 entities and individuals for carrying out Russian government's interference in 2020 US election."

"US President Joe Biden's executive order sanctioning Russian sovereign debt allows actions to be expanded in future."

Market reaction

The USD/RUB pair is rising sharply on this development and was last seen gaining 1.6% on a daily basis at 77.0960.