Ruble Hits Record Low as Russia Sanctions Take Hold
The Russian ruble crashed amid a public frenzy to pull cash out of bank accounts on Monday, knocking 30% off the currency's value.
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The Russian ruble crashed amid a public frenzy to pull cash out of bank accounts on Monday, knocking 30% off the currency's value.
All Russian banks that have already been sanctioned by the international community are going to be restricted from Swift. That list can be expanded if needed, with an eye toward maximizing the impact on Russia and minimizing the impact on the European, officials said.
The US has for years used the power of the dollar to cut adversaries off from global finance. Now, it is using the prevalence of American technology to cut
The move is aimed at Russian banks that have already been sanctioned
The move is aimed at Russian banks that have already been sanctioned