Effective immediately, the Biden administration announced additional sanctions against Russia’s central bank, a move that prohibits Americans from doing any business with the bank as well as freezes assets within the US.
This comes after the US, the EU, the UK and Canada, over the weekend, announced they would restrict Russia’s ability to use its central bank reserves.
Over the weekend, the US, European allies and Canada agreed to remove key Russian banks from the interbank messaging system, SWIFT, an extraordinary step that will sever the country !!! from much of the global financial system.
Moscow’s exclusion from SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, means Russian banks won’t be able to communicate securely with banks beyond its borders.
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