US imposes sanctions on Russian central bank

[nitpicker]

Source: The Hill

US imposes sanctions on Russian central bank
BY SYLVAN LANE - 02/28/22 07:33 AM EST


The Treasury Department on Monday banned transactions with the Central Bank of Russia and the Russian foreign investment fund, imposing strict financial sanctions on a Russian economy already in free fall.

The new penalties effectively cut the Russian central bank from the U.S. dollar and severely limit Russian President Vladimir Putin’s ability to dampen the blow of previous sanctions.

U.S. individuals and businesses are now unable to make any financial transitions with or on behalf of the Central Bank of the Russian Federation, National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation. The sanctions also ban any foreign financial firm from sending U.S. dollars to the Russian central bank, finance ministry and wealth fund.

The Treasury Department said it would make exceptions for certain energy-related payments in a bid to prevent a sharp spike in global oil and natural gas prices. But U.S. officials said Monday the new penalties would still push the Russian economy deeper into a collapse they blame on Putin’s invasion into Ukraine.
(snip)

Read more: https://thehill.com/policy/finance/596082-us-imposes-sanctions-on-russian-central-bank

[underpants]

1. Dollar Dollar Joe

Damn that’s good.

[dalton99a]

2. Excellent

[trusty elf]

4. Good work, Vlad!

[BumRushDaShow]

3. Saw a NYT breaking

U.S. escalates sanctions with a freeze on Russian central bank assets.

Alan Rappeport
Feb. 28, 2022, 7:30 a.m. ET39 minutes ago
39 minutes ago


The Treasury Department on Monday moved to further cut off Russia from the global economy, announcing that it would immobilize Russian Central Bank assets that are held in the United States and impose sanctions on the Russian Direct Investment Fund, a sovereign wealth fund that is run by a close ally of President Vladimir V. Putin.

The moves are meant to curb Russia’s ability to use its war chest of international reserves to blunt the impact of sanctions that the United States and European allies have enacted in response to Russia’s invasion of Ukraine.

“The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Treasury Secretary Janet L. Yellen said in a statement. As a result of the sanctions, Americans are barred from taking part in any transactions involving the Russian Central Bank, Russia’s National Wealth Fund or the Russian Ministry of Finance.

The moves represent a significant escalation of U.S. sanctions, although the Treasury Department said it was making an exemption to ensure that transactions related to Russia’s energy exports can continue. It is issuing a “general license” to authorize certain energy-related transactions with the Russian Central Bank.

https://www.nytimes.com/2022/02/28/us/politics/us-sanctions-russia-central-bank.html

[blue-wave]

5. You mean

Donnie and the GQP, along with their KGB coalition in the U.S. won't be able to get their money out?

[Obvious85]

6. 'Our Leaders are so STUPID' - Trump said

Oh really? Putin has lost, more than he ever bargained for. weakling

[ananda]

7. I wonder if Putin actually believed all this would happen.

Well, it is happening, mutherfukker.

[Curtis]

8. This is a good place to ask this question

I've only seen hints about actually seizing funds and property of Russians in the international realm. Wouldn't it be a good move to not only freeze accounts and funds but to actually start seizing this money, property or whatever and giving the money to Ukraine so they can pay for the war Russia started?

If this has been covered elsewhere, I'd love to read more about it