US announces new sanctions ahead of Democracy Summit

The United States Department of the Treasury will introduce a series of sanctions as part of the "Summit for Democracy", which will be held from December 9 to 10 via videoconference. This was reported by representatives of the US presidential administration to The Wall Street Journal and Reuters.

Washington did not specify who exactly the restrictions would be imposed against, but indicated that they would affect officials of foreign governments and other people accused of corruption and human rights violations. The US authorities see the sanctions as an "important tool" in the White House's efforts to stimulate "democratic renewal" around the world, reports the WSJ.

"Over the course of the week, the Treasury will take a series of actions to identify individuals who engage in malicious activities that undermine democracy and democratic institutions around the world, including corruption, repression, organized crime and serious human rights violations," the unnamed official said.

He also clarified that in addition to sanctions, the Treasury plans to limit the "loopholes" that allow corrupt officials to use the US real estate market, as well as generally increase the transparency of corporate ownership.