U.S. is sanctioning Russia’s central bank to prevent the government from using its emergency reserve currencies to protect the economy from Western pressure campaign
Follow-on sanction prevents Moscow from selling foreign currency to prop up ruble; Central Bank governor sees liquidity crisis
A powerful coalition of democracies announced it would cut off some Russian banks from the global payment system Swift. Here’s how Swift works, and how the move could ramp up pressure on Russian President Putin. Photo Illustration: Dado Ruvic/ReutersWASHINGTON—The U.S.
, and the actions against the Bank of Russia are intended in effect to neutralize the country’s monetary defenses.
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