Biden to sign executive order targeting financial facilitators of Russian defense industry
CBSN
Washington — President Biden is set to sign an executive order giving the U.S. Treasury Department the authority to target financial institutions that facilitate Russia's efforts to bolster its defense industry.
The new sanctions authority is meant to gum up the Kremlin's push to restock the Russian military's depleted arsenal after nearly 22 months of fighting in Ukraine. Russia has already lost over 13,000 pieces of equipment, including tanks, drones and missile systems, according to a U.S. assessment.
The White House said Mr. Biden plans to sign the order later on Friday.
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