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The United States is expanding sanctions on Russia’s central bank, blocking US businesses there and freezing any assets the Russian state holds in the US.
In a statement issued today, Treasury Secretary Janet Yellen said the decision would apply to the Central Bank of the Russian Federation, the National Wealth Fund of the Federation and the Ministry of Finance of the Russian Federation.
“The unprecedented action we are taking today will significantly limit Russia’s ability to use its assets to finance its destabilizing activities and target the funds on which Putin and his inner circle depend to enable his invasion of Ukraine. Today, in coordination with partners and allies, we are pursuing key commitments to limit Russia’s access to these valuable resources.“, Stressed Yellen.
Earlier, Canada and the EU announced they would restrict Russia from using its central bank reserves.
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