Following the Russian Ukraine crisis, the United States has reportedly banned all US transactions with Russia’s Central Bank with immediate effect.
According to reports, the Treasury Department made this known on Monday, stating that the unprecedented sanction was to further punish Moscow for invading Ukraine.
The report read, “This action effectively immobilizes any assets of the Central Bank of the Russian Federation held in the United States or by US persons, wherever located.”
Commenting on this, a senior administration officer reportedly made it known that, “Transactions to defend the ruble, which is now plummeting, will no longer be possible and fortress Russia will be exposed.”
He maintained, “Our objective is to make sure that the Russian economy goes backwards if President Putin decides to continue to go forward with an invasion of Ukraine, and we have the tools to continue to do that.”