Washington, Feb 28, (dpa/GNA) – The United States has also imposed hard-hitting sanctions on the Russian central bank, banning US citizens and institutions from conducting transactions with the institution, says a senior White House official.
The measures also mean that the central bank can no longer conduct business in dollars anywhere in the world, according to the official.
These and sanctions imposed by other allies effectively block most of Russia’s foreign exchange reserves, worth $630 billion, meaning Moscow cannot use them to counter the economic consequences of the war, he said.
He added that Russia’s sovereign wealth fund and Finance Ministry would also face sanctions, in a strategy aiming to “make sure that the Russian economy goes backwards, as long as President Putin decides to go forward with his invasion of Ukraine,” the official said.
GNA