The United States and its allies have imposed sanctions on Russia’s central bank and sovereign wealth funds, effectively freezing their assets and banning dealings with the Russian financial institutions in the latest western move to punish Moscow for its invasion of Ukraine.The US Department of the Treasury said on Monday the sanctions will deprive Russian President Vladimir Putin of funds he needs for the war in Ukraine.“The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Secretary of the Treasury Janet Yellen said in a statement.
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