US, EU and allies seek to cripple Russian banks and currency with new sanctions
Sunday, February 27, 2022 | Tag Cloud Tags: EU, News, Russia, sanctions, UK, Ukraine, United States, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) – The United States and Western allies sought to cripple Russia’s banking sector and currency Saturday with an extraordinary set of sanctions punishing Moscow’s invasion of Ukraine.
Taking measures unprecedented against a country of Russia’s size and international stature, the allies cut selected banks from the SWIFT system, rendering them isolated from the rest of the world.
They hobbled the Russian central bank’s ability to use reserves to support the already sinking ruble, which a senior US official said will now “go into freefall.” [ Source: AFP (Read More…) ]
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.