Your monthly update on what’s happening in key international markets.
07 Mar 2022, 3 min read
Read how regions are reacting to the crisis in Ukraine from our teams in Washington, Beijing and Brussels.
Washington
We should expect to see the Biden administration’s aggressive posturing on Russia continue. The White House has unveiled an unprecedented set of sanctions that could be reasonably seen as economic warfare against Russia.
The administration has:
- Banned dollar trading with the Central Bank of Russia and the Russian National Wealth Fund
- Blacklisted Sberbank, Russia’s second largest bank, from processing transactions in US dollars
- Frozen the US-held assets of three other Russian banks
- Frozen the US assets of major oligarchs
- Outlawed Russian state-owned enterprises from selling debt instruments in the US.
The Biden administration has also set an embargo on sensitive American technological parts that could fuel the Russian war effort. Sanctioning energy giant Rosneft is not on the table but could be held in reserve in case the violence gets worse.
The Biden administration has also requested that Congress authorises almost $7bn
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