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U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs

U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs
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U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift And Severe Economic Costs - United States Acts In Tandem With Partners And Allies To Maximize Consequences For Russia, And In Show Of Unity Against Invasion Of A Sovereign State

<p><span>The United States took significant and unprecedented action to respond to Russia&rsquo;s further invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system. The</span><b>&nbsp;</b><span>U.S. Department of the Treasury&rsquo;s Office of Foreign Assets Control (OFAC) today imposed expansive economic measures, in partnership with allies and partners, that target the core infrastructure of the Russian financial system &mdash; including all of Russia&rsquo;s largest financial institutions and the ability of state-owned and private entities to raise capital &mdash; and further bars Russia from the global financial system. The actions also target nearly 80 percent of all banking assets in Russia and will have a deep and long-lasting effect on the Russian economy and financial system.</span></p>

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