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U.S. Bans Transactions With Russian Central Bank, Wealth Fund

  • Moves ‘effectively immobilize’ U.S. held central bank assets
  • U.S., EU working on list of banks to cut off from SWIFT
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U.S. Bans Transactions With Russian Central Bank
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President Joe Biden’s administration on Monday banned U.S. people and companies from doing business with the Bank of Russia, the Russian National Wealth Fund and the Ministry of Finance.

The moves by the U.S. Treasury’s Office of Foreign Assets Control will “effectively immobilize” any Russian central bank assets held in the U.S. or by U.S. nationals, according to a Treasury department statement.