US, EU and allies seek to cripple Russian banks and currency with new sanctions

Sunday, February 27, 2022 | Tag Cloud Tags: , , , , , , ,

(Worthy News) – The and Western allies sought to cripple ’s banking sector and currency Saturday with an extraordinary set of punishing Moscow’s invasion of .

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…) ]

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