Russia is said to feel severe consequences after invading Ukraine.
(Photo: Reuters)
new York The next round of sanctions against Russia also targets the Russian central bank. The Western states want to impose measures that “prevent the Russian central bank from using its international reserves in a way that undermines the effectiveness of our sanctions”. This emerges from a statement on Saturday that the United States released together with Germany, France, Italy, Great Britain, Canada and the European Commission.
Exact details are still being worked out and could be published as early as Sunday. “But it’s already clear that this is a significant step,” said Josh Lipsky of the Atlantic Council think tank. Imposing sanctions on a central bank “is probably the move that causes the most pain in the international financial system”.
The decision came much faster than initially expected. There have never been sanctions against a central bank of the 20 large industrialized countries (G20). “This is unprecedented,” Lipsky said.
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