As part of its sanctions package, the U.S. Treasury is banning Americans from doing business with the Central Bank of the Russian Federation and …
As part of its sanctions package, the U.S. Treasury is banning Americans from doing business with the Central Bank of the Russian Federation and two other Russian government entities. Americans will also be banned from conducting transactions with the National Wealth Fund of the Russian Federation and the Ministry of Finance of the Russian Federation. The U.S. government has also sanctioned Russian President Vladimir Putin directly, as well as several of his cabinet ministers. S&P Global Ratings lowered Russia’s bond rating to “junk” Saturday under the weight of sanctions imposed by the U.S. and European allies, and the Russian ruble dropped 26% against the U.S. dollar between Friday and Monday. “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 Yellen said in a statement.
