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


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(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…) ]

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