The US administration has prepared an initial package of sanctions against Russia, that includes barring U.S. financial institutions from processing transactions for major Russian banks, Reuters reported citing sources on Monday.
According to them, the measures, which will only be implemented if Russia invades Ukraine, aim to hurt the Russian economy by cutting the "correspondent" banking relationships between targeted Russian banks and U.S. banks that enable international payments, Reuters says.
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UK Foreign Secretary Liz Truss said at the Munich Security Conference this past weekend that anti-Russia sanctions, which will be implemented in the event of a Russian "invasion" of Ukraine, would target Russian "oligarchs" and will also make it harder for Russia to access sovereign debt markets.
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