Western leaders are increasing the pressure on Russia by imposing more economic measures.
In a joint statement published by the European Commission on Sunday, the US, UK, Europe, and Canada announced they will limit the sale ofgolden passports, which allow Russia's richest individuals to invest in a country in exchange for citizenship.
The statement said that they would take measures to limit the sale of citizenship so that wealthy Russians connected to the Russian government could gain access to our financial systems.
Russia launched a full-scale invasion of Ukraine early Thursday morning in response to the move.
The President of the European Commission, Ursula von der Leyen, said in a statement that the measures will cripple Putin's ability to finance his war machine.
She said that Putin embarked on a path to destroy Ukraine. He is also destroying the future of his own country.
Russia's elite now stand to lose because of a golden passport. All family members have freedom of movement within the Schengen Zone.
The new wave of sanctions came after Western forces announced that some Russian banks would be ejected from the banking system. Some countries that initially opposed Russia's removal from SWIFT have changed their stance.
The foreign minister of Germany said Friday that she did not believe a ban was the best course of action.
In the Sunday statement, the US, UK, Europe, and Canada vowed to ensure that the war is a failure for Putin.
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