U.S., Canada and European leaders vow to freeze Russian assets, target banks
A substantial step up in sanctions on Russia for its invasion of Ukraine was announced by the US, Canada, and European allies in a joint statement Saturday evening as air raid sirens wailed in Kyiv. The sanctions would target Russian financial institutions, including the central bank. The allies warned they would prevent Russia's central bank from accessing hundreds of billions of dollars in Western reserves, a move that may lead to financial panic as Russia seeks to pay for its new war. Russia's banks have also been threatened with exclusion from the SWIFT messaging system, which links banks worldwide and is seen as a vital part of international banking. During daytime hours on Saturday, fighting had subsided, but missiles were still raining down on Kiev and other Ukrainian towns. A curfew of 5 p.m. was enforced by the authorities.
Article:
https://www.washingtonpost.com/world/2022/02/26/russia-ukraine-war-news-updates/
By: Joey Jens
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