Posted on 02/28/2022 5:43:05 AM PST by Jim Robinson
The Treasury Department on Monday banned transactions with the Central Bank of Russia and the Russian foreign investment fund, imposing strict financial sanctions on a Russian economy already in free fall.
The new penalties effectively cut the Russian central bank from the U.S. dollar and severely limit Russian President Vladimir Putin’s ability to dampen the blow of previous sanctions.
U.S. individuals and businesses are now unable to make any financial transitions with or on behalf of the Central Bank of the Russian Federation, National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation. The sanctions also ban any foreign financial firm from sending U.S. dollars to the Russian central bank, finance ministry and wealth fund.
The Treasury Department said it would make exceptions for certain energy-related payments in a bid to prevent a sharp spike in global oil and natural gas prices. But U.S. officials said Monday the new penalties would still push the Russian economy deeper into a collapse they blame on Putin’s invasion into Ukraine.
“Our strategy, to put it simply, is to make sure that the Russian economy goes backwards as long as President Putin decides to go forward with his invasion of Ukraine,” said a senior Biden administration official on a call with reporters.
(Excerpt) Read more at thehill.com ...
At what point might anyone in Foggy Bottom dust off the archives of Russian-American relations from the 1940’s-1980’s and remember that they have nuclear weapons?
IOW, we will continue to buy oil from Russia. Can we get more stupid?
This is ridiculous. We are displaying far from neutral behavior. The west is escalating a war we are not supposed to be involved in.
This is the kind of stuff leading to unintended consequences such as the sinking of the Lusitania.
Why haven’t we cut off all Russian energy and raw materials exports, amd sanctioned China for doing business with them?
Sealing the new Russian-China alliance.
These guys are sinking the ship....
China rebuffed the back channel threat....
That alliance is already sealed.
So, it’s time to degrade the Russian economy and allow Putin to show the lack of credibility of his obsolete military.
This little fact has not been reported on any news outlet I have been watching.
Criminal media.
So just continue to do business as usual as Putin invades countries and massacres civilians?
Are you insane?
“Treasury Department said it would make exceptions for certain energy-related payments …”
Like ours
“The Treasury Department said it would make exceptions for certain energy-related payments in a bid to prevent a sharp spike in global oil and natural gas prices.”
That sharp spike is happening anyway. What does Russia have to sanction apart from oil and natural gas? Mail order brides? Only Fans accounts?
The MIC with their neocon and media buddies are sure beating that drum. If they think this is 1990 redux they have another thing coming.
China has Russia’s back. They will be fine.
Don’t sweat the small stuff
Have sanctions ever worked?
Remember the guys putting on sanctions are the same ones who think the planet is melting away.
What would be the world economy impact upon such action?
Good or bad and how would the USA be impacted?
IOW, we will continue to buy oil from Russia. Can we get more stupid?
Idiocy. Become energy independent again. Diaper Joe's "sanctions" are about as effective as a wet noodle flogging.
Hi.
I hope you are doing well.
“IOW, we will continue to buy oil from Russia. Can we get more stupid?”
Not stupid. Not incompetent. Deliberate and evil.
5.56mm
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.