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The United States and European nations have agreed to impose crippling financial penalties on Russia as a response to Russia’s invasion of Ukraine.Summary
This Time article makes the following points:
- The latest sanctions will target the central bank reserves that underpin the Russian economy and sever Russian banks from a vital global financial network.
- The major bank restrictions target access to the more-than-$600-billion in reserves that the Kremlin has at its disposal.
- The European Union, United States, United Kingdom and other allies have steadily stepped up their sanctions since Russia launched the invasion in late February.
- The latest measures will spare Russia’s oil and natural gas exports.
- The sanctions include cutting key Russian banks out of the SWIFT financial messaging system, which moves billions of dollars around more than 11,000 banks and other financial institutions each day.
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References
Recent Runway Posts related to this topic:
WEB SOURCES: THE 2022 RUSSO-UKRAINE CONFLICT | The Runway (airforce.gov.au)
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References from the Web:
- FEB 2022 How Putin Is Losing at His Own Disinformation Game in Ukraine—Time
- FEB 2022 How central bank sanctions could hobble Russia—AFR
Source Information:
- Article Source: Time
- Media Check: Time - Media Bias Fact Check (mediabiasfactcheck.com)
- LEARNING OUTCOMES—RUNWAY | The Runway (airforce.gov.au)
