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Biden Administration Unleashes Financial Warfare Against Russia; Have We Gone Mad?
April 15 , 2021 (EIRNS) The White House announced a series of sanctions against Russia today, the gravest of which because of what it portends is an attack on Russia’s ability to issue ruble-denominated debt, with the stated purpose of triggering massive capital flight and wreaking havoc on the Russian economy.
By prohibiting American companies and financial institutions from purchasing ruble- denominated public debt as of June 14, 2021, a Senior Administration Official briefed the press on background today, the U.S. intends to provoke “a negative feedback loop”: “This is the main market that funds the Russian government. Removing U.S. investors as buyers in this market can create a broader chilling effect that raises Russia’s borrowing costs, along with capital flight and a weaker currency. And all of these forces have a material impact on Russia’s g