Ukraine invasion: Sanctions are not forever
2 years, 9 months ago

Ukraine invasion: Sanctions are not forever

New Indian Express  

A part of the sanctions concerns restrictions on banks. The Office of Foreign Asset Control list has stopped Russia’s central banks, the country’s finance ministry and the national wealth fund from accessing the dollar. Dollar became a “safe haven” because of its safety, liquidity and value. Jim O’Neill, formerly of Goldman Sachs, wonders “whether this episode set the stage for the kind of monetary and financial fragmentation that some analysts long anticipated?”. Some analysts take the view that it could shake the faith in the dollar and lead to the rise of currency arrangements linked to yuan, rupee or others.

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History of this topic

US transfers $20 billion to Ukraine funded by seized Russian assets
1 month ago

US transfers $20 billion to Ukraine funded by seized Russian assets

India Today  

The United States announced Tuesday that it has disbursed a $20 billion loan for Ukraine backed by proceeds earned on frozen Russian assets, as part of a $50 billion G7 support package. "These funds -- paid for by the windfall proceeds earned from Russia's own immobilized assets -- will provide Ukraine a critical infusion of support as it defends its …

World's largest wealth fund gets nod to start selling Russian stocks blocked after 2022 Ukraine invasion
1 month ago

World's largest wealth fund gets nod to start selling Russian stocks blocked after 2022 Ukraine invasion

Firstpost  

Permission to sell the wealth fund’s Russian stocks is given on the condition that the sale can be done in line with applicable sanctions Norway’s sovereign wealth fund, the largest in the world with $1.8 trillion in assets, has received the green light to sell its holdings in Russian companies, provided such transactions comply with international sanctions, the country’s deputy …

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war
1 month, 2 weeks ago

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

Associated Press  

WASHINGTON — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday — in a move intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining …

G-7 allies are moving ahead with a $50-billion loan for Ukraine backed by frozen Russian funds
2 months, 2 weeks ago

G-7 allies are moving ahead with a $50-billion loan for Ukraine backed by frozen Russian funds

LA Times  

U.S. Secretary of Defense Lloyd J. Austin III, right, is greeted by Ukraine’s President Volodymyr Zelensky during their meeting in Kyiv, Ukraine, on Monday. Ukraine will receive $50 billion in loans, backed by frozen Russian assets, from Group of 7 allies, the White House said Wednesday. “Never before has a multilateral coalition frozen the assets of an aggressor country and …

Russia's adaptability to US sanctions stymied their effectiveness, economists say
3 months, 2 weeks ago

Russia's adaptability to US sanctions stymied their effectiveness, economists say

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

US sanctions hundreds of firms accused of supplying Russia’s war machine
4 months, 2 weeks ago

US sanctions hundreds of firms accused of supplying Russia’s war machine

Associated Press  

WASHINGTON — The U.S. imposed sweeping sanctions Friday on hundreds of firms in Russia and across Europe, Asia and the Middle East, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions. Friday’s action is the latest in a series of thousands of U.S. sanctions that have been imposed on Russian …

European Union transfers $1.6 billion raised from frozen Russian assets to Ukraine
5 months, 2 weeks ago

European Union transfers $1.6 billion raised from frozen Russian assets to Ukraine

India Today  

The European Union announced Friday it had made 1.5 billion euros available to support Ukraine, the first tranche of money generated from profits on frozen Russian assets. In May, the EU’s 27 member states reached an agreement to use the interest earned on some 210 billion euros in Russian central bank assets for military support for Ukraine and rebuilding efforts …

G7 to use Russian assets for $50bn Ukraine loan: How will it work?
6 months, 4 weeks ago

G7 to use Russian assets for $50bn Ukraine loan: How will it work?

Al Jazeera  

The funds could help Ukraine defend itself against Russia. The G7 group of countries announced a plan on Thursday to use frozen Russian assets to finance a $50bn loan for Ukraine as Kyiv continues its desperate campaign to stop its bigger neighbour’s forces from advancing further, 28 months into Moscow’s war. Many Western nations froze assets of the Russian Central …

G7 leaders agree to lend Ukraine billions backed by Russia’s frozen assets. Here’s how it will work
6 months, 4 weeks ago

G7 leaders agree to lend Ukraine billions backed by Russia’s frozen assets. Here’s how it will work

Associated Press  

WASHINGTON — Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival. President Joe Biden told reporters at a news conference Thursday that the move was part of a “historic agreement.” Ukraine’s president, Volodymyr Zelenskyy, said providing a loan through Russia’s assets “is a vital step …

Europe bows to US pressure to agree $50bn loan for Ukraine
6 months, 4 weeks ago

Europe bows to US pressure to agree $50bn loan for Ukraine

The Telegraph  

Rishi Sunak, the Prime Minister, said the loan would be “game-changing” for Ukraine’s ability to ward off Russian attacks. ‘Forward leaning’ A Foreign Office source said: “It’s always been the case that us and the US have been most forward-leaning, needing to persuade the others.” US officials hope the loan plan will avoid a “tantrum” from Mr Zelensky at next …

G7 agrees to loan Ukraine $50 billion from the interest on frozen Russian assets
6 months, 4 weeks ago

G7 agrees to loan Ukraine $50 billion from the interest on frozen Russian assets

NPR  

G7 agrees to loan Ukraine $50 billion from the interest on frozen Russian assets toggle caption Ludovic Marin/AFP/Getty Images Western leaders have agreed to loan Ukraine up to $50 billion to fight Russia and rebuild after the lengthy war, money that will be repaid over time from the interest accumulating on frozen Russian financial assets, a senior U.S. official told …

US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assets
7 months, 1 week ago

US Treasury official visits Ukraine to discuss sanctions on Moscow and seizing Russian assets

Associated Press  

WASHINGTON — A senior U.S. Treasury official has met with Ukrainian officials in Kyiv to discuss U.S. financial support, enforcing sanctions on Russia and using frozen Russian assets for Ukraine’s benefit in the war with Moscow. The visit this week by Deputy Secretary Wally Adeyemo came as Russia gains territory after a lengthy delay in U.S. military aid left Ukraine …

G7 officials make progress but no final deal on money for Ukraine from frozen Russian assets
7 months, 2 weeks ago

G7 officials make progress but no final deal on money for Ukraine from frozen Russian assets

Associated Press  

FRANKFURT, Germany — Finance officials from the Group of Seven rich democracies said they had moved toward agreement on a U.S. proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. “We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit …

Putin signs decree allowing seizure of Americans’ assets if US confiscates Russian holdings
7 months, 2 weeks ago

Putin signs decree allowing seizure of Americans’ assets if US confiscates Russian holdings

Associated Press  

President Vladimir Putin has signed a decree allowing Russia to confiscate assets of U.S. companies and individuals to compensate for any Russian assets confiscated in the United States. The decree was published on the Russian government’s legal portal on Thursday as top finance officials from the Group of Seven industrialized nations began a meeting at which the question of what …

With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
7 months, 2 weeks ago

With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets

Associated Press  

FRANKFURT, Germany — Ukraine’s allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv’s war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier. “Securing Ukraine’s position in the medium-to-long term requires unlocking the value of immobilized Russian sovereign assets,” …

‘New ground is being broken’: EU seizes Russian profits for Ukraine
7 months, 2 weeks ago

‘New ground is being broken’: EU seizes Russian profits for Ukraine

Al Jazeera  

Ukraine wants to use $300bn in Russian central bank money held abroad to defeat it; Europe isn’t enthusiastic. Ukraine wants to use the estimated 210 billion euros of Russian central bank money held in European institutions to defeat Russia on the battlefield. “In this sense, new ground is being broken.” The EU decision is to tap the interest twice a …

Russian court seizes two European banks’ assets amid Western sanctions
7 months, 3 weeks ago

Russian court seizes two European banks’ assets amid Western sanctions

Al Jazeera  

Freezing hundreds of billions of dollars in lenders’ assets was part of dispute over gas project halted by sanctions. A Russian court has ordered the seizure of the assets, accounts, property and shares of Deutsche Bank and Commerzbank in the country as part of a lawsuit involving the German banks, court documents showed. The court also seized the assets of …

Ukrainian ministers ‘optimistic’ about securing US aid, call for repossession of Russian assets
9 months, 4 weeks ago

Ukrainian ministers ‘optimistic’ about securing US aid, call for repossession of Russian assets

Associated Press  

WASHINGTON — A pair of Ukrainian justice ministers in Washington this week urged U.S. lawmakers to put aside domestic political disputes and find a way to continue supporting Ukraine in its defense against Russia. “We really hope the U.S. is going to be a champion in terms of confiscation of Russia’s sovereign assets and leading other countries,” Maliuska said, adding …

West should be bolder about seizing Russian assets: UK PM Rishi Sunak
10 months, 2 weeks ago

West should be bolder about seizing Russian assets: UK PM Rishi Sunak

Hindustan Times  

Western nations should be bolder about confiscating Russian assets which they froze after the country's full-scale invasion of Ukraine in 2022, British Prime Minister Rishi Sunak said. Britain's Prime Minister Rishi Sunak Sunak, in an article in an early edition of the Sunday Times to mark two years since the start of the conflict, said Ukraine continued to need more …

The plan to make Russia pay for Ukraine's weapons
10 months, 4 weeks ago

The plan to make Russia pay for Ukraine's weapons

ABC  

In short: There is a growing push among some Western nations, including the US, to use Russian assets they froze at the beginning of the war to fund Ukraine's military. There is a growing push among some Western nations, including the US, to use Russian assets they froze at the beginning of the war to fund Ukraine's military. Last month …

EU moves slowly to use profits from frozen Russian assets to help Ukraine
11 months, 1 week ago

EU moves slowly to use profits from frozen Russian assets to help Ukraine

Firstpost  

European Union nations have reached a tentative agreement to approve an outline deal that would retain the profits from the frozen assets of the Russian central bank, amounting to hundreds of billions of dollars. However, it is considered a significant initial move toward utilizing a portion of the 200 billion euros in Russian central bank assets held in the EU …

Nearly two years after invasion, West still seeking a way to steer frozen Russian assets to Ukraine
11 months, 3 weeks ago

Nearly two years after invasion, West still seeking a way to steer frozen Russian assets to Ukraine

Associated Press  

WASHINGTON — It’s been nearly two years since the United States and its allies froze hundreds of billions of dollars in Russian foreign holdings in retaliation for Moscow’s invasion of Ukraine. At this week’s World Economic Forum meetings in Davos, Switzerland, Ukrainian President Volodymyr Zelenskyy called for a “strong” decision this year for the frozen assets in Western banks to …

It is time to use Russia’s frozen assets to help Ukraine
11 months, 3 weeks ago

It is time to use Russia’s frozen assets to help Ukraine

Al Jazeera  

An estimated $350bn in Russian government assets have been frozen in Western accounts since Russian President Vladimir Putin ordered a full-scale invasion of Ukraine on February 24, 2022. British Foreign Secretary David Cameron publicly opened the doors to the idea last December by stating: “Instead of just freezing that money, let’s take that money, spend it on rebuilding Ukraine.” Meanwhile, …

Fear of sanctions keeps SBI off Russian oil deals
11 months, 4 weeks ago

Fear of sanctions keeps SBI off Russian oil deals

Live Mint  

NEW DELHI : State Bank of India has long avoided payment transactions for Russian oil bought by state-run refiners to avert US sanctions that came into force on 5 December 2022, two people aware of the matter said. Mint also reported about India’s largest lender requesting data on purchasing prices from refiners such as Indian Oil Corp. Ltd, Bharat Petroleum …

Swiss government lines up behind EU’s 11th round of sanctions against Russia
1 year, 4 months ago

Swiss government lines up behind EU’s 11th round of sanctions against Russia

Associated Press  

GENEVA — Switzerland’s government has lined up with the European Union’s 11th round of sanctions against Russia over its war in Ukraine. Switzerland, which is not a member of the 27-country bloc, is a key EU trading partner and has followed every set of its sanctions against Russian companies and individuals since Russian President Vladimir Putin launched an invasion of …

Here come more sanctions: How effective are they are stopping Russia’s invasion of Ukraine?
1 year, 7 months ago

Here come more sanctions: How effective are they are stopping Russia’s invasion of Ukraine?

Associated Press  

WASHINGTON — The U.S. and other Group of Seven nations rolled out a new wave of global sanctions against Russia over its invasion of Ukraine as they met Friday during a summit in Japan. Treasury Secretary Janet Yellen said the newest sanctions will tighten the grip on Russian President Vladimir Putin’s “ability to wage his barbaric invasion and will advance …

Cyprus probes citizens named over Russian sanctions evasion
1 year, 8 months ago

Cyprus probes citizens named over Russian sanctions evasion

Associated Press  

NICOSIA, Cyprus — Cyprus’ government said Thursday it’s looking into how a number of Cypriot nationals were included in a new round of U.S. and U.K. sanctions targeting the financial networks of Russian oligarchs Alisher Usmanov and Roman Abramovich who are close allies of Russian President Vladimir Putin. Cypriot President Nikos Christodoulides called an emergency meeting of top officials to …

Zelenskyy calls for confiscating Russian Central Bank funds
1 year, 8 months ago

Zelenskyy calls for confiscating Russian Central Bank funds

Associated Press  

WASHINGTON — In an appeal to the heads of the IMF and World Bank, Ukraine’s president on Wednesday renewed his call to confiscate Russian Central Bank assets held around the world and use them to help rebuild Ukraine. He was patched in for a session with Ukrainian Prime Minister Denys Shmyhal, U.S. Treasury Secretary Janet Yellen, World Bank President David …

US, UK aim sanctions at Russian oligarchs’ finance networks
1 year, 8 months ago

US, UK aim sanctions at Russian oligarchs’ finance networks

Associated Press  

WASHINGTON — The United States and Britain announced new sanctions Wednesday aimed at Russian oligarchs Alisher Usmanov and Roman Abramovich, targeting the financial networks of two of Moscow’s wealthiest businessmen who are close allies of Russian President Vladimir Putin. Blinken alleged that the two organizations “support Russia’s efforts to undermine the sovereignty and territorial integrity of Ukraine through the militarization …

US turns to new ways to punish Russian oligarchs for the war
1 year, 9 months ago

US turns to new ways to punish Russian oligarchs for the war

Associated Press  

WASHINGTON — The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and specifically its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine. From the Treasury Department to the Justice Department, U.S. officials will focus on efforts to legally liquidate the property of Russian oligarchs, expand financial penalties on those who facilitate the …

Will Russia sanctions dethrone ‘King Dollar’?
1 year, 10 months ago

Will Russia sanctions dethrone ‘King Dollar’?

Al Jazeera  

A flood of nations is trying to cut dependance on the dollar, fearing ‘weaponisation’ by the US. Now, another war is setting the stage for many countries to explore a move away from the dollar for trade, raising questions over the currency’s future dominance. The financial world’s ‘nuclear option’ The US-led sanctions freezing Russia’s ability to use half of its …

Russia after a year of sanctions
1 year, 10 months ago

Russia after a year of sanctions

Al Jazeera  

The Russian economy has fallen into a recession, but economic and political instability are not yet on the horizon. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries imposed numerous sanctions against Russian banks and companies, which significantly affected the Russian economy. The combined share of these raw materials in Russian exports in 2021 was 11.7 percent, so …

EU slaps sanctions on top Russia officials, banks, trade
1 year, 10 months ago

EU slaps sanctions on top Russia officials, banks, trade

The Hindu  

The European Union agreed Saturday to impose new sanctions on Russia over its invasion of Ukraine targeting more officials and organizations accused of supporting the war, spreading propaganda or supplying drones, as well as restricting trade on products that could be used by the armed forces. Transactions with some of Russia’s largest banks are also prohibited.” Asset freezes were slapped …

Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary
2 years, 4 months ago

Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary

Associated Press  

GENEVA — The Swiss financial markets watchdog said Friday that Sberbank, one of Russia’s largest banks, is selling its Swiss subsidiary, which had come under pressure because of international sanctions on Russian interests over the invasion of Ukraine. FINMA, the Swiss markets authority, said in a statement Friday that it had lifted “protective measures” — mainly to protect clients — …

EU envoys agree Russian gold embargo, freeze on Sberbank assets
2 years, 5 months ago

EU envoys agree Russian gold embargo, freeze on Sberbank assets

Al Jazeera  

EU set to impose a seventh round of sanctions on Russia over its invasion of Ukraine, including on its biggest lender. European Union diplomats meeting in Brussels have agreed a new round of sanctions against Moscow for its war in Ukraine, including a ban on importing gold from Russia and freezing the assets of the country’s top lender Sberbank. #EU2022CZ …

How is Russia’s economy performing under Western sanctions?
2 years, 7 months ago

How is Russia’s economy performing under Western sanctions?

Al Jazeera  

The Kremlin says the economy is weathering the storm, but analysts warn of a steep future decline. Western nations imposed some of their strongest ever sanctions on Russia as punishment for invading Ukraine. They include freezing the central bank’s foreign reserves, banning oil and gas imports and suspending Russia’s banks from global financial systems. The American investment bank JP Morgan …

G7 plans €15 billion in aid for Ukraine, Russia calls it ‘outright theft’
2 years, 7 months ago

G7 plans €15 billion in aid for Ukraine, Russia calls it ‘outright theft’

The Hindu  

The finance ministers of the Group of Seven economic powers want to put together a €15 billion aid package for Ukraine at their meeting in Bonn this week, a senior German government official said on May 17. Russia opposes G7’s aid to Ukraine The Kremlin said it would be “outright theft” for the Group of Seven economic powers and European …

What are capital controls and how is Russia seeking to use them to ease the pain of sanctions?
2 years, 8 months ago

What are capital controls and how is Russia seeking to use them to ease the pain of sanctions?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. While liberal, free market economists used to consider such …

Explained: Why US needs a law to sell off Russian oligarchs' assets
2 years, 8 months ago

Explained: Why US needs a law to sell off Russian oligarchs' assets

Firstpost  

Under current federal law, only the Justice Department has the authority to determine how seized funds can be spent. And there are strict rules on who can benefit from seized proceed Washington: President Joe Biden doesn’t want to just seize the yachts, luxury homes and other assets of Russian oligarchs, he wants to sell off the pricey goods and use …

Why the U.S. needs a law to sell off Russian oligarchs’ assets
2 years, 8 months ago

Why the U.S. needs a law to sell off Russian oligarchs’ assets

LA Times  

The superyacht Amadea is docked at the Queens Wharf in Lautoka, Fiji, on April 15. President Biden doesn’t want to just seize the yachts, luxury homes and other assets of Russian oligarchs, he wants to sell off the pricey goods and use the money to help rebuild Ukraine. During a House committee hearing Thursday, the Treasury Department’s Financial Crimes Enforcement …

Cryptocurrency miner in latest Russian sanctions targets
2 years, 8 months ago

Cryptocurrency miner in latest Russian sanctions targets

Associated Press  

WASHINGTON — The U.S. rolled out new sanctions on Wednesday against more than 40 individuals and entities accused of evading the ongoing wave of penalties imposed on Russia as punishment for invading Ukraine. Transkapitalbank is a Russian privately owned commercial bank which the U.S. says has helped sanctioned clients process dollar payments, by providing an alternative communication channel to SWIFT …

Cryptocurrency firms in latest Russian sanctions targets
2 years, 8 months ago

Cryptocurrency firms in latest Russian sanctions targets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Transkapitalbank is a Russian privately owned commercial bank which …

Fresh US sanctions hit Russian bank, oligarchs, crypto miner
2 years, 8 months ago

Fresh US sanctions hit Russian bank, oligarchs, crypto miner

Al Jazeera  

The United States has imposed several rounds of sanctions on Moscow since its February 24 invasion of Ukraine. The United States on Wednesday imposed sanctions on dozens of people and entities, including a Russian commercial bank and a virtual currency mining company, hoping to target Moscow’s evasion of existing sanctions over Russia’s invasion of Ukraine. The US Department of the …

Russia’s Putin says Western sanctions have failed
2 years, 8 months ago

Russia’s Putin says Western sanctions have failed

Al Jazeera  

Sanctions against Russia over its invasion of Ukraine led to a ‘deterioration of the economy in the West’, President Putin says. Western countries have imposed unprecedented sanctions on Russia’s corporate and financial system since it sent troops into Ukraine on February 24 in what it calls a “special military operation”. Putin said Russia should use its budget to support the …

War in Ukraine: EU Nations Have Frozen 30 Billion Euros in Russian, Belarusian Assets
2 years, 9 months ago

War in Ukraine: EU Nations Have Frozen 30 Billion Euros in Russian, Belarusian Assets

News 18  

The EU has so far frozen nearly 30 billion euros in assets from blacklisted Russian and Belarusian individuals and companies under sanctions imposed for Moscow’s war in Ukraine, it said Friday. The EU’s figures were partial, based on data from around half of the EU’s 27 member states given to the bloc’s “Freeze and Seize” task force operating in coordination …

U.K., European Union impose sanctions on Putin's daughters
2 years, 9 months ago

U.K., European Union impose sanctions on Putin's daughters

The Hindu  

Britain and the European Union have added two adult daughters of Russian President Vladimir Putin to their sanctions list, as part of a new package of measures targeting Russia's economy, businessmen and oligarchs in retaliation for the Kremlin's invasion of Ukraine. The British government said on Friday that it is imposing asset freezes and travel bans on Putin’s daughters Katerina …

Russia-Ukraine War: Fresh Sanctions by US Target Putin’s Daughters, Banks, Govt Officials
2 years, 9 months ago

Russia-Ukraine War: Fresh Sanctions by US Target Putin’s Daughters, Banks, Govt Officials

News 18  

In the aftermath of the gruesome Bucha killings, the United States and its allies have imposed fresh sanctions against Russia. “Sanctions against Russia must be ruinous enough for us to end this terrible war,” said the head of Ukraine’s presidential office, Andriy Yermak. The new sanctions target Russian President Vladimir Putin’s two adult daughters, Russia’s Sberbank and a ban on …

US sanctions Putin's daughters and more Russian banks
2 years, 9 months ago

US sanctions Putin's daughters and more Russian banks

India Today  

The United States targeted Russian banks and elites with a new package of sanctions on Wednesday that includes banning any American from investing in Russia, after Washington and Kyiv accused Moscow of committing war crimes in Ukraine. The new sanctions will put full blocking sanctions in Russia's Sberbank, which holds one-third of Russia's total banking assets, and Alfabank, a senior …

Treasury bars Russia payments in dollars from US accounts
2 years, 9 months ago

Treasury bars Russia payments in dollars from US accounts

Associated Press  

WASHINGTON — The Treasury Department is moving to keep the Russian government from making debt payments at U.S. banks with U.S. dollars, restricting one of the strategies President Vladimir Putin is using to stave off default, an agency official said Tuesday. The Treasury decision comes after the agency previously said sanctions levied on Russia over its invasion of Ukraine still …

The Ukraine war and after: Is dollar losing heft as reserve currency?
2 years, 9 months ago

The Ukraine war and after: Is dollar losing heft as reserve currency?

Firstpost  

The sooner the world debates the legitimacy of the US’ unilateral sanctions, the better it would be for the larger world. Unlike most unilateral sanctions by the US and its Western allies, the current one on Russia, deriving from the Ukraine war, has raised questions about the continued feasibility of the American dollar as the world’s ‘reserve currency’. Unlike this …

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