Can Putin Recover From This? [View all]

[DemocratSinceBirth]

The EU Commission announced this afternoon that the European Central Bank will deploy its most powerful financial weapon against Russian aggression. Several hours later, Secretary of State Antony Blinken announced that the Federal Reserve will impose sanctions of its own upon the Russian central bank.

Central-bank sanctions are a weapon so devastating, in fact, that the only question is whether they might do more damage than Western governments might wish. They could potentially bankrupt the entire Russian banking system and push the ruble into worthlessness.

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https://www.theatlantic.com/ideas/archive/2022/02/how-russian-sanctions-work/622940/