This extends a December initiative that targeted international banks thought to be supporting Russia’s military campaign in Ukraine.
Additionally, the US imposed sanctions on the Moscow Stock Exchange, which caused it to stop accepting euro and dollar trade.
Additionally, it made an effort to limit Russia’s access to software and chips.
In December, US President Joe Biden issued an executive order imposing sanctions on banks that transacted with over 1,200 people and businesses that were thought to be providing support to Russia’s military apparatus.
These actions, which presently impact 4,500 organizations, raise the possibility that banks will be unable to access the American financial system.
The US will focus on gold-laundering as well.
The US “is shifting towards something that begins to look like an effort to set up a global financial embargo on Russia,” according to Peter Harrell, a former senior director for international economics in the White House, who spoke to the Reuters news agency.
The US Treasury declared that it would put sanctions on certain elements of Russia’s financial system, including the Moscow Exchange, one of the country’s principal stock exchanges, as part of this endeavor.
The stock exchange, the biggest foreign exchange market in Russia, stated that it was compelled to cease dealing in dollars and euros due to the restrictions.
