The United States government is considering freezing the $643 billion in reserves of the Russian central bank amassed by President Vladimir Putin following his invasion of Ukraine.

Bloomberg reports that while decisions on the fresh sanction were yet to be finalised, the President Joe Biden administration was urgently exploring options to severely limit Russia’s ability to advance its military operations in Ukraine.



Sources familiar with the matter told the New York-based media outlet that U.S. was aiming to impose the fresh sanctions in conjunction with allies across Europe to maximally incapacitate Moscow.

Despite steadily reducing its foreign currency dependency, Russia’s central bank at the end of June 2021 was reported to still have 16.4 per cent of its holdings in dollars.



The consideration for stiffer sanctions come days after Mr Biden announced sanctions targeting Russian assets in response to the expanded invasion of Ukraine on Thursday.

The earlier announced sanctions include export blocks on technology, which the Biden administration said would severely limit Russia’s ability to advance its military and aerospace sector.



Mr Biden also applied sanctions on four Russian banks and “corrupt billionaires” and their families who are close to the Kremlin. These banks hold over $1 trillion in assets, including the country’s largest bank.

Also, European leaders on Friday decided to impose a second batch of sanctions to incapacitate the Russian economy, setting its target on banks, state-owned companies and individuals. However, at first they had been undecided about blocking Russia from SWIFT.

France had supported cutting off Russia from the global SWIFT payment system and was also ready to supply weapons and military equipment to Ukraine.

However, Germany’s finance minister, Christian Lindner, said on Friday that his government was “open” to cutting Russia from Swift.

Peoples Gazette had earlier reported Hungary’s support for cutting Russia off the banking network.

On Saturday, the EU began the process to cut off Russia from the Swift banking system according to reports from European media.
https://gazettengr.com/u-s-considers-freezing-650-billion-reserve-of-russian-central-bank/

Even USA sef dey fear Russia like this.

USA under Biden has become a toothless bulldog

What the United states been praying for decades

boring

Emdsa:
News source nko

You can see the source on the link below,it has been updated

GoodHardDick:
Even USA sef dey fear Russia like this.

USA under Biden has become a toothless bulldog

Dem wan freeze almight Russia Central bank .tootheless dog small yansh don dey shake o

Why do I feel this war is actually between these two super powers?

US should join the fight already, tired of hearing freeze and sanctions upandan

Hisbah21:
boring

I hope u can now see that America have power to freeze a stubborn nation central bank

PaNnamdi:

I hope u can now see that America have power to freeze a stubborn nation central bank

you said what?

PaNnamdi:
The United States government is considering freezing the $643 billion in reserves of the Russian central bank amassed by President Vladimir Putin following his invasion of Ukraine.

Bloomberg reports that while decisions on the fresh sanction were yet to be finalised, the President Joe Biden administration was urgently exploring options to severely limit Russia’s ability to advance its military operations in Ukraine.



Sources familiar with the matter told the New York-based media outlet that U.S. was aiming to impose the fresh sanctions in conjunction with allies across Europe to maximally incapacitate Moscow.

Despite steadily reducing its foreign currency dependency, Russia’s central bank at the end of June 2021 was reported to still have 16.4 per cent of its holdings in dollars.



The consideration for stiffer sanctions come days after Mr Biden announced sanctions targeting Russian assets in response to the expanded invasion of Ukraine on Thursday.

The earlier announced sanctions include export blocks on technology, which the Biden administration said would severely limit Russia’s ability to advance its military and aerospace sector.



Mr Biden also applied sanctions on four Russian banks and “corrupt billionaires” and their families who are close to the Kremlin. These banks hold over $1 trillion in assets, including the country’s largest bank.

Also, European leaders on Friday decided to impose a second batch of sanctions to incapacitate the Russian economy, setting its target on banks, state-owned companies and individuals. However, at first they had been undecided about blocking Russia from SWIFT.

France had supported cutting off Russia from the global SWIFT payment system and was also ready to supply weapons and military equipment to Ukraine.

However, Germany’s finance minister, Christian Lindner, said on Friday that his government was “open” to cutting Russia from Swift.

Peoples Gazette had earlier reported Hungary’s support for cutting Russia off the banking network.

On Saturday, the EU began the process to cut off Russia from the Swift banking system according to reports from European media.
https://gazettengr.com/u-s-considers-freezing-650-billion-reserve-of-russian-central-bank/

I want to ask, who freeze America's assets when it was destroying Libya and killing innocent civillians in it's bombardment of Libya an Independent sovereign Nation
America should Bleep off bcuz, it is not a saint. America is a bigger evil to humanity compared to Russia little misunderstanding with her younger brother the Ukraine

ChangetheChange:
That's the end of Russia Economy, even the Russian military will overthrow Putin by the time cash crunch begins to hit the Russian Economy by next week

you don't seem to know what you are talking about....
That is the end of the petrol dollar system

Central banks dont store money in currencies only, bulk of their assets are in Gold, Diamond, Silver and other expensive metals too. The assets they can freeze are those held in US treasury in dollars. This is the time the world has been waiting for ''The death of dollar dominancy in international trades''. China will be happy by the news.

Minime10:


I want to ask, who freeze America's assets when it was destroying Libya and killing innocent civillians in it's bombardment of Libya an Independent sovereign Nation
America should Bleep off bcuz, it is not a saint. America is a bigger evil to humanity compared to Russia little misunderstanding with her younger brother the Ukraine

Look at the nonsense you are analysing.just listen to yourself

Well I don't blame you because the current situation Nigeria find itself today is having so many human prototypes like you littering every space of Nigeria.

GoodHardDick:
Even USA sef dey fear Russia like this.

USA under Biden has become a toothless bulldog

what they did is what they are supposed to do as world number 1. Stick with ur lord putin until the end

SweetSauce:
US should join the fight already, tired of hearing freeze and sanctions upandan

join fight as how ?